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- EUR/KRW is currently trading around 1,301 mark.
- It made intraday high at 1,302 and low at 1,294 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,294 mark.
- A sustained close above 1,295 will take the parity higher towards key resistances around 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,295 will drag the parity down towards key supports around 1,288, 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
- 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.
- South Korea’s Kospi was trading 1.01 point lower at 2,103.27.
We prefer to take long position on EUR/KRW around 1,298, stop loss at 1,290 and target of 1,319/1,327.
