- EUR/KRW is currently trading around 1,336 mark.
- Pair made intraday high at 1,338 and low at 1,336 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,337 mark.
- A sustained close above 1,337 will take the parity higher towards key resistances around 1,343, 1,355, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,337 will drag the parity down towards key supports around 1,328, 1,323, 1,308, 1,302, 1,288, 1,272 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 0.72 pct.
- Korea, South Jan unemployment rate decrease to 3.6 % vs previous 3.7 % (revised from 3.6 %).
We prefer to take long position on EUR/KRW only above 1,339, stop loss at 1,328 and target of 1,355.
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