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- EUR/KRW is currently trading around 1,202 mark.
- Pair made intraday high at 1,203 and low at 1,200 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,198 mark.
- A daily close below 1,200 will drag the parity down towards key supports around 1.194, 1,188, 1,178, 1,163 and 1,154 marks respectively.
- Alternatively, a sustained close above 1,200 will take the parity higher towards key resistances around 1,205, 1,214, 1,228, 1,233, 1,242 and 1,252marks respectively.
- Seoul shares open down 0.38 pct at 2152.64.
- 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 1,201, stop loss at 1,194 and target of 1,214.
