- EUR/KRW is currently trading around 1,291 mark.
- It made intraday high at 1,295 and low at 1,291 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1,298 mark.
- A sustained close above 1,298 will take the parity higher towards key resistances around 1,310, 1,324, 1,332, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,294 will drag the parity down towards key supports around 1,290, 1,282, 1,274, 1,265 and 1,244 marks respectively.
- Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
- South Korea’s kospi was trading 0.96 pct higher at 2,222.54 points.
We prefer to take short position on EUR/KRW around 1,293, stop loss at 1,298 and target of 1,282/1,274.
