- EUR/KRW is currently trading around 1,280 mark.
- It made intraday high at 1,281 and low at 1,280 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,272 mark.
- A sustained close above 1,280 will take the parity higher towards key resistances around 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,280 will drag the parity down towards key supports around 1,272, 1,265, 1,257, 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 0.28 pct.
We prefer to take long position on EUR/KRW around 1,280, stop loss at 1,270 and target of 1,294 mark.
