- EUR/KRW is currently trading around 1,222 mark.
- Pair made intraday high at 1,222 and low at 1,219 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,220 mark.
- A daily close below 1,220 will drag the parity down towards key supports around 1,207, 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.
- Alternatively, a sustained close above 1,220 will take the parity higher towards key resistances around 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
- Seoul shares open down 0.03 pct at 2080.77.
- 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.
We prefer to take short position in EUR/KRW only below 1,220, stop loss at 1,230 and target of 1,201.
