- EUR/KRW is currently trading around 1,301 mark.
- Pair made intraday high at 1,302 and low at 1,300 levels.
- Intraday bias remains neutral for the moment.
- A sustained close above 1,302 will take the parity higher towards key resistances around 1,315, 1,327 and 1,338 marks respectively.
- On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,292, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 marks respectively.
- 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.
- Seoul shares open down 0.07 pct.
We preer to take long position on EUR/KRW only above 1,302, stop loss at 1,292 and target of 1,315.
