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- EUR/KRW is currently trading around 1,316 mark.
- Pair made intraday high at 1,316 and low at 1,314 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,305 mark.
- A sustained close above 1,315 will take the parity higher towards key resistances around 1,327, 1,338 and 1,358 marks respectively.
- On the other side, a daily close below 1,315 will drag the parity down towards key supports around 1,305, 1,294, 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 up and confirms the bullish trend in a daily chart.
- Seoul shares open up 0.23 pct.
- Korea, South July 2018 BOK base rate stays flat to 1.5 (forecast 1.5, previous 1.5).
We prefer to take long position on EUR/KRW around 1,315, stop loss at 1,305 and target of 1,327.
