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- EUR/KRW is currently trading around 1,293 mark.
- Pair made intraday high at 1,294 and low at 1,292 levels.
- Intraday bias remains neutral till the time pair moves in stiff directions from 1,290 to 1,298 mark.
- A sustained close above 1,299 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 1,292 will drag the parity down towards key supports around 1,282, 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Korea, South Aug 2018 Nikkei markit manufacturing PMI increase to 49.9 vs previous 48.3.
- Seoul shares open down 0.21 pct.
We prefer to take short position on EUR/KRW only below 1,292, stop loss at 1,298 and target of 1,277.
