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

  • EUR/KRW is currently trading around 1,281 mark.
     
  • It made intraday high at 1,281 and low at 1,276 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1,275 mark.
     
  • A sustained close above 1,280 will take the parity higher towards key resistances around 1,287, 1,294, 1,307, 1,315 and 1,327 marks respectively.
     
  • On the other side, a daily close below 1,276 will drag the parity down towards key supports around 1,270, 1,257, 1,246, 1,234, 1,218 and 1,206 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • Seoul shares open down 0.03 pct.

We prefer to take long position on EUR/KRW around 1,279, stop loss at 1,275 and target of 1,287/1,294.

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