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- EUR/KRW is currently trading around 1,315 mark.
- It made intraday high at 1,317 and low at 1,315 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,310 mark.
- A sustained close above 1,316 will take the parity higher towards key resistances around 1,326, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
- On the other side, a daily close below 1,316 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 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.
We prefer to take short position on EUR/KRW only below 1,310, stop loss 1,318 and target of 1,302/1,294.
