FxWirePro: EUR/KRW trades in stiff directions, downside limited

• EUR/KRW is currently trading around 1,335 mark.
   
• Pair made intraday high at 1,339 and low at 1,334 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,349 mark.
   
• A sustained close above 1,335 will take the parity higher towards key resistances around 1,344, 1,349, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,335 will drag the parity down towards key supports around 1,328, 1,320, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 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 down 0.09 pct at 2376.38.

We prefer to take long position on EUR/KRW only above 1,340, stop loss at 1,328 and target of 1,349/1,363.

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