Fxwirepro: Eur/krw Hits Fresh 3-Week Low at 1,218 Mark, Consistent Close Below Targets 1,207 Mark

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

Pair made intraday high at 1,221 and low at 1,218 levels.

Intraday bias remains neutral till the time pair holds key support at 1,218 mark.

A daily close below 1,219 will drag the parity down towards key supports around 1,212, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively. Alternatively, a sustained close above 1,219 will take the parity higher towards key resistances around 1,230, 1,237, 1,249, 1,262 and 1,274 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 down 0.01 pct at 2296.06.

We prefer to take short position in EUR/KRW only below 1,218, stop loss at 1,230 and target of 1,207/1,200.

News are provided by InstaForex