- EUR/KRW is currently trading around 1,300 mark.
- Pair made intraday high at 1,303 and low at 1,300 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1,307 mark.
- A sustained close above 1,303 will take the parity higher towards key resistances around 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
- On the other side, a daily close below 1,303 will drag the parity down towards key supports around 1,289, 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.
- South Korea Sept core CPI +1.0 pct yr/yr vs +1.0 pct in Aug.
- South Korea Sept CPI growth mm increase to 0.7 % (forecast 0.32 %) vs previous 0.5 %.
- Seoul shares open down 0.20 pct.
We prefer to take short position on EUR/KRW only below 1,299, stop loss at 1,305 and target of 1,289/1,277.
