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FxWirePro: EUR/KRW moves in rigid boundaries, stay neutral

  • EUR/KRW is currently trading around 1,315 mark.
     
  • It made intraday high at 1,316 and low at 1,313 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 1,318 mark.
     
  • A sustained close above 1,318 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
     
  • On the other side, a daily close below 1,308 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • Seoul shares open down 0.07 pct. 

We prefer to take long position on EUR/KRW only above 1,320, stop loss 1,308 and target of 1,340.

By Aarti Panchal
  • Market Data
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