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- EUR/KRW is currently trading around 1,246 mark.
- Pair made intraday high at 1,248 and low at 1,242 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,240 mark.
- A sustained close above 1,242 will take the parity higher towards key resistances around 1,255, 1,260, 1,269 and 1,272 marks respectively.
- On the other side, a consistent close below 1,240 will drag the parity down towards key supports around 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
- Seouls Kospi shares open up 0.18 pct at 2041.61.
- 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.
We prefer to go long on EUR/KRW around 1,245 with stop loss at 1,236 and target of 1,255/1,260/1,272.
