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 d…
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.
