- EUR/KRW is currently trading around 1,262 mark.
- Pair made intraday high at 1,265 and low at 1,262 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,265 marks.
- A sustained close above 1,265 will take the parity higher towards key resistances around 1,269, 1,274, 1,287 and 1,304 marks respectively.
- On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Seoul shares open up 0.04 pct at 2358.92.
We prefer to take long position in EUR/KRW only above 1,265, stop loss 1,253 and target of 1,287.
