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- EUR/KRW is currently trading around 1,298 mark.
- Pair made intraday high at 1,301 and low at 1,293 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,286 mark.
- A sustained close above 1,293 will take the parity higher towards key resistances around 1,302, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,293 will drag the parity down towards key supports around 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Seoul shares open down 0.23 pct.
We prefer to take long position on EUR/KRW around 1,296, stop loss at 1,285 and target of 1,302/1,315.
