• FxWirePro: EUR/KRW trades in narrow range, stay bearish only below 1,298 Mark

    Source: FxWire Pro - Technicals / 19 Sep 2018 22:02:05   America/New_York

    • EUR/KRW is currently trading around 1,306 mark.
       
    • Pair made intraday high at 1,308 and low at 1,306 levels.
       
    • Intraday bias remains neutral till the time pair holds key support at 1,298 mark.
       
    • A sustained close above 1,315  will take the parity higher towards key resistances around 1,327, 1,338, 1,358 and 1,380 marks respectively.
       
    • On the other side, a daily close below 1,298, will drag the parity down towards key supports around  1,291, 1,282, 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. Current downside movement is short term trend correction only.
       
    • Seoul shares open up 0.26 pct.

    We prefer to take short position on EUR/KRW only below 1,298, stop loss at 1,310 and target of 1,282.

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