FxWirePro: EUR/KRW trades in narrow range, bias remains neutral

• EUR/KRW is currently trading around 1,225 mark.
   
• Pair made intraday high at 1,228 and low at 1,225 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,225 mark.
   
• A daily close below 1,225 will drag the parity down towards key supports around 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
   
• Alternatively, a sustained close above 1,225 will take the parity higher towards key resistances around 1,230, 1,237, 1,249, 1,262 and 1,274 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 0.70 pct at 2306.73.
   
• South Korea April export growth revised increase to 24.1 %.
   
• South Korea April import growth revised increase to 17.3 %.
   
• South Korea April trade balance revised decrease to 12.98 bln $ vs previous 13.30 bln $.

We prefer to take long position in EUR/KRW only above 1,230, stop loss at 1,218 and target of 1,249.