Fxwirepro: Eur/krw Trades in Narrow Range, Bias Remains Neutral

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• EUR/KRW is currently trading around 1,233 mark.
   
• Pair made intraday high at 1,233 and low at 1,232 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,232 mark.
   
• A daily close below 1,232 will drag the parity down towards key supports around 1,227, 1,218, 1,212, 1,208, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
• Alternatively, a sustained close above 1,232 will take the parity higher towards key resistances around 1,238, 1,245, 1,252, 1,262 and 1,274 marks respectively.
   
• Seoul shares open up 0.24 pct at 2224.91.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• South Korea March current account at s/adj $+5.07 bln vs $+10.01 bln in February.

We prefer to take long position in EUR/KRW around 1,232, stop loss at 1,227 and target of 1,252.

The material has been provided by InstaForex Company – www.instaforex.com

May 04, 2017 at 07:29AM

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