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- EUR/KRW is currently trading around 1,269 mark.
- Pair made intraday high at 1,271 and low at 1,266 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,262 mark.
- A sustained close above 1,268 will take the parity higher towards key resistances around 1,275, 1,280, 1,287 and 1,301 marks respectively.
- On the other side, a consistent close below 1,262 will drag the parity down towards key supports around 1,253, 1,242, 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- South Korea’s December Nikkei Markit manufacturing PMI increases to 49.4 vs previous 48.0.
We prefer to go long on EUR/KRW only above 1,270 with stop loss at 1,263 and target of 1,275/1,287.
