- EUR/KRW is currently trading around 1,217 mark.
- Pair made intraday high at 1,218 and low at 1,212 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,208 mark.
- A daily close below 1,212 will drag the parity down towards key supports around 1,208, 1.200, 1,189, 1,178, 1,163 and 1,154 marks respectively.
- Alternatively, a sustained close above 1,212 will take the parity higher towards key resistances around 1,218, 1,228, 1,233, 1,242 and 1,252marks respectively.
- Seoul shares open up 0.20 pct at 2128.17.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- South Korea’s March unemployment rate decrease to 3.7 % vs previous 4.0 %.
We prefer to take long position in EUR/KRW around 1,215, stop loss at 1,208 and target of 1,228.
