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- EUR/KRW is currently trading around 1,230 mark.
- Pair made intraday high at 1,230 and low at 1,226 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,227 mark.
- A daily close below 1,227 will drag the parity down towards key supports around 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 1,227 will take the parity higher towards key resistances around 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.
- Seoul shares open up 0.37 pct at 2278.47.
We prefer to take long position in EUR/KRW around 1,228, stop loss at 1,220 and target of 1,237/1,249.
