FxWirePro: EUR/KRW rejects key support at 1,194 mark, bias remains slightly bullish

• EUR/KRW is currently trading around 1,212 mark.
   
• Pair made intraday high at 1,213 and low at 1,211 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,200 mark.
   
• A daily close below 1,211 will drag the parity down towards key supports around 1,200, 1,191, 1,184, 1,178 and 1,163 marks respectively.
   
• Alternatively, a sustained close above 1,211 will take the parity higher towards key resistances around 1,219, 1,228, 1,233, 1,242 and 1,252marks respectively.
   
• Seoul shares open down 0.85 pct at 2159.97.
   
• 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 1,212, stop loss at 1,200 and target of 1,219/1,228.