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- EUR/KRW is currently trading around 1,251 mark.
- Pair made intraday high at 1,254 and low at 1,251 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,246 mark.
- A sustained close above 1,261 will take the parity higher towards key resistances around 1,280, 1,294, 1,302, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,246 will drag the parity down towards key supports around 1,234, 1,222, 1,205 and 1,188 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Seoul stock exchange will remain close in observance of Memorial Day.
We prefer to take long position on EUR/KRW only above 1,261, stop loss at 1,246 and target of 1,280.
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