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- EUR/KRW is currently trading around 1,230 mark.
- Pair made intraday high at 1,232 and low at 1,228 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,222 mark.
- A daily close below 1,228 will drag the parity down towards key supports around 1,222, 1,218, 1,212, 1,208, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
- Alternatively, a sustained close above 1,228 will take the parity higher towards key resistances around 1,238, 1,242 and 1,252 marks respectively.
- Seoul shares open up 0.25 pct at 2202.37.
- 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 take long position in EUR/KRW around 1,230, stop loss at 1,222 and target of 1,238/1,252.
