- EUR/KRW is currently trading around 1,327 mark.
- Pair made intraday high at 1,332 and low at 1,327 levels.
- Intraday bias remains bearish till the time pair holds immediate resistance at 1,336 mark.
- A sustained close above 1,336 will take the parity higher towards key resistances around 1,342, 1,356, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,330 will drag the parity down towards key supports around 1,322, 1,308, 1,299, 1,290, 1,273 and 1,264 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 down 1.07 pct.
- Korea, South Q4 GDP growth q/q revised stays flat at -0.2 % vs previous -0.2 %.
- Korea, South Q4 GDP growth y/y revised decrease to 2.8 % vs previous 3 %.
We prefer to take short position on EUR/KRW around 1,330, stop loss at 1,338 and target of 1,315/1,308/1,299.
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