- EUR/KRW is currently trading around 1,297 mark.
- Pair made intraday high at 1,298 and low at 1,293 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1,302 mark.
- A sustained close above 1,302 will take the parity higher towards key resistances around 1,308, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
- On the other side, a daily close below 1,293 will drag the parity down towards key supports around 1,286, 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.
- Seoul shares open up 0.24 pct.
We prefer to take short position on EUR/KRW around 1,298, stop loss at 1,308 and target of 1,277.
