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- EUR/KRW is currently trading around 1,319 mark.
- Pair made intraday high at 1,320 and low at 1,318 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,320 mark.
- A sustained close above 1,320 will take the parity higher towards key resistances around 1,327, 1,338, 1,347 and 1,355 marks respectively.
- On the other side, a daily close below 1,320 will drag the parity down towards key supports around 1,308, 1,302, 1,288, 1,272, 1,264, 1,248 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. Current downside movement is short term trend correction only.
- Seoul shares open up 0.55 pct.
We prefer to take long position on EUR/KRW only above 1,320, stop loss at 1,308 and target of 1,338.
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