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- EUR/KRW is currently trading around 1,250 mark.
- Pair made intraday high at 1,254 and low at 1,250 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,257 mark.
- A sustained close above 1,257 will take the parity higher towards key resistances around 1,262, 1,269 and 1,272 marks respectively.
- On the other side, a consistent close below 1,252 will drag the parity down towards key supports around 1,242, 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
- Seoul Kospi shares open up 0.12 pct at 2038.33.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to go short on EUR/KRW around 1,252 with stop loss at 1,257 and target of 1,242/1,235.
