FxWirePro: South Korean won rises gradually against euro, stay bearish

• EUR/KRW is currently trading around 1,276 mark.
   
• It made intraday high at 1,276 and low at 1,275 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1,282 mark.
   
• A sustained close above 1,274 will take the parity higher towards key resistances around 1,282, 1,294, 1,307, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,267, 1,258, 1,246 and 1,234 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Seoul shares open up 1.22 pct.

We prefer to take short position on EUR/KRW around 1,277, stop loss at 1,282 and target of 1,258.