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- EUR/KRW is currently trading around 1,208 mark.
- Pair made intraday high at 1,209 and low at 1,207 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,208 mark.
- A daily close below 1,208 will drag the parity down towards key supports around 1.200, 1,189, 1,178, 1,163 and 1,154 marks respectively.
- Alternatively, a sustained close above 1,208 will take the parity higher towards key resistances around 1,212, 1,219, 1,228, 1,233, 1,242 and 1,252marks respectively.
- Seoul shares open down 0.19 pct at 2129.23.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in EUR/KRW only below 1,208, stop loss at 1,213 and target of 1,200/1,194.
