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- EUR/KRW is currently trading around 1,309 mark.
- Pair made intraday high at 1,311 and low at 1,308 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,308 mark.
- A sustained close above 1,308 will take the parity higher towards key resistances around 1,320, 1,332, 1,338, 1,356, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,308 will drag the parity down towards key supports around 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 up 1.06 pct.
We prefer to take short position on EUR/KRW only below 1,308, stop loss at 1,320 and target of 1,273.
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