Fxwirepro: Eur/krw Rejects Key Resistance at 1,224 Mark, Consistent Close Below 1,217 Targets 1,201 Mark

EUR/KRW is currently trading around 1,220 mark.

Pair made intraday high at 1,220 and low at 1,216 levels. Intraday bias remains neutral till the time pair holds key support at 1,217 mark.

A daily close below 1,217 will drag the parity down towards key supports around 1,208, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.

Alternatively, a sustained close above 1,217 will take the parity higher towards key resistances around 1,224, 1,228, 1,233, 1,242 and 1,252marks respectively.

Seoul shares open up 0.56 pct at 2161.24.

Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take short position in EUR/KRW only below 1,217, stop loss at 1,224 and target of 1,201.

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