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- EUR/KRW is currently trading around 1,258 mark.
- Pair made intraday high at 1,260 and low at 1,256 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,250 mark.
- A daily close below 1,256 will drag the parity down towards key supports around 1,247, 1,242, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
- Alternatively, a sustained close above 1,256 will take the parity higher towards key resistances around 1,263, 1,274, 1,287 and 1,304 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 0.33 pct at 2319.37.
We prefer to take long position in EUR/KRW around 1,257, stop loss at 1,250 and target of 1,263/1,274/1,287.
