- EUR/KRW is currently trading around 1,274 mark.
- It made intraday high at 1,275 and low at 1,273 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,277 mark.
- A sustained close above 1,274 will take the parity higher towards key resistances around 1,277, 1,282, 1,289, 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,265, 1,257, 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 Feb 2019 current account bal nsa increase to 3.6 usd vs previous 2.82 usd (revised from 2.77 usd).
- Seoul shares open down 0.10 pct.
We prefer to take short position on EUR/KRW only below 1,272, stop loss 1,277 and target of 1,265/1,257/1,246.
