• FxWirePro: EUR/KRW rejects key resistance at 1,322 Mark, faces strong support at 1,308 Mark

    Source: FxWire Pro - Technicals / 20 Mar 2018 21:18:00   Eastern Standard Time

    • EUR/KRW is currently trading around 1,311 mark.
       
    • Pair made intraday high at 1,311 and low at 1,309 levels.
       
    • Intraday bias remains neutral till the time pair holds immediate support at 1,308 mark.
       
    • A sustained close above 1,321 will take the parity higher towards key resistances around 1,332, 1,338, 1,356, 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 1,299, 1,290, 1,273 and 1,264 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 up 0.11 pct.

    We prefer to take short position on EUR/KRW only below 1,308, stop loss at 1,322 and target of 1,290/1,273.

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