- EUR/KRW is currently trading around 1,222 mark.
- Pair made intraday high at 1,224 and low at 1,221 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,224 mark.
- A daily close below 1,224 will drag the parity down towards key supports around 1,217, 1,208, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
- Alternatively, a sustained close above 1,224 will take the parity higher towards key resistances around 1,228, 1,233, 1,242 and 1,252marks respectively.
- Seoul shares open down 0.01 pct at 2138.19.
- 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 only above 1,226, stop loss at 1,217 and target of 1,233/1,242.
