- EUR/KRW is currently trading around 1,220 mark.
- Pair made intraday high at 1,221 and low at 1,218 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,218 mark.
- A daily close below 1,219 will drag the parity down towards key supports around 1,212, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
- Alternatively, a sustained close above 1,219 will take the parity higher towards key resistances around 1,230, 1,237, 1,249, 1,262 and 1,274 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 0.01 pct at 2296.06.
We prefer to take short position in EUR/KRW only below 1,218, stop loss at 1,230 and target of 1,207/1,200.
