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- EUR/KRW is currently trading around 1,317 mark.
- It made intraday high at 1,318 and low at 1,313 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,313 mark.
- A sustained close above 1,313 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,313 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Seoul shares open up 0.99 pct.
We prefer to take short position on EUR/KRW only below 1,313, stop loss 1,325 and target of 1,302/1,294.
