FxWirePro: EUR/KRW trades in narrow range, sustained close below 1,247 targets 1,234 mark

• EUR/KRW is currently trading around 1,249 mark.
   
• Pair made intraday high at 1,249 and low at 1,248 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,247 mark.


• A daily close below 1,248 will drag the parity down towards key supports around 1,242, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
   
• Alternatively, a sustained close above 1,248 will take the parity higher towards key resistances around 1,255, 1,263, 1,274, 1,287 and 1,304 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 0.31 pct.

We prefer to take short position in EUR/KRW only below 1,247, stop loss at 1,255 and target of 1,234.