- EUR/KRW is currently trading around 1,255 mark.
- Pair made intraday high at 1,255 and low at 1,253 levels.
- Intraday bias remains neutral for the moment.
- A sustained close above 1,254 will take the parity higher towards key resistances around 1,268, 1,280, 1,294, 1,302, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,254 will drag the parity down towards key supports around 1,242, 1,222 and 1,205 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 0.17 pct.
We prefer to take short position on EUR/KRW around 1,258, stop loss at 1,270 and target of 1,242/1,222.
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