- EUR/KRW is currently trading around 1,303 mark.
- Pair made intraday high at 1,304 and low at 1,302 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,305 mark.
- A sustained close above 1,302 will take the parity higher towards key resistances around 1,315, 1,327 and 1,347 marks respectively.
- On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,293, 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.
- Korea, South Jun 2018 consumer sentiment index increase to 105.5.
- South Korea June consumer sentiment index sets biggest drop since November 2016.
- South Korea June consumers 12-month median inflation expectations at 2.6 pct vs 2.6 pct in May
We prefer to take long position on EUR/KRW only above 1,305, stop loss at 1,293 and target of 1,315/1,327.
