- EUR/KRW is currently trading around 1,200 mark.
- Pair made intraday high at 1,201 and low at 1,193 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,193 mark.
- A daily close below 1,194 will drag the parity down towards key supports around 1,191, 1,184, 1,178 and 1,163 marks respectively.
- Alternatively, a sustained close above 1,194 will take the parity higher towards key resistances around 1,200, 1,208, 1,213, 1,219, 1,228, 1,233, 1,242 and 1,252marks respectively.
- Seoul shares open up 0.28 pct at 2162.95.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in EUR/KRW around 1,201, stop loss at 1,209 and target of 1,193/1,191/1,178.
