• FxWirePro: EUR/KRW remains well supported below 1,290 Mark, stay short

    Source: FxWire Pro - Technicals / 29 Dec 2019 10:18:18   America/New_York

    • EUR/KRW is currently trading around 1,286 mark.
       
    • It made intraday high at 1,288 and low at 1,284 levels.
       
    • Intraday bias remains slightly bearish till the time pair holds key resistance at 1,288 mark.
       
    • A sustained close above 1,288 will take the parity higher towards key resistances around 1,302, 1,323, 1,347 and 1,363 marks respectively.
       
    • On the other side, a daily close below 1,282 will drag the parity down towards key supports around 1,274, 1,265 and 1,244 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
       
    • South Korea’s kospi was trading 0.10 pct lower at 2,189.09 mark.

    We prefer to take short position on EUR/KRW around 1,286, stop loss at 1,294 and target of 1,274/1,265.

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