• FxWirePro: EUR/KRW moves in rigid boundaries, bias remains neutral

    Source: FxWire Pro - Technicals / 23 Oct 2018 22:09:53   America/New_York

    • EUR/KRW is currently trading around 1,298 mark.
       
    • Pair made intraday high at 1,302 and low at 1,298 levels.
       
    • Intraday bias remains neutral till the time pair holds key support at 1,295 mark.
       
    • A sustained close above 1,302 will take the parity higher towards key resistances around 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
       
    • On the other side, a daily close below 1,295 will drag the parity down towards key supports around 1,289, 1,277, 1,267, 1,258, 1,246 and 1,234 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 0.62 pct.
       
    • South Korea to cut transportation fuel tax by 15 pct from Nov 6 for six months.

    We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,294 and target of 1,315.

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