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- EUR/KRW is currently trading around 1,294 mark.
- Pair made intraday high at 1,294 and low at 1,289 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,288 mark.
- A sustained close above 1,289 will take the parity higher towards key resistances around 1,295, 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
- On the other side, a daily close below 1,289 will drag the parity down towards key supports around 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- South Korean banks will be closed in observance of National Foundation Day.
We prefer to take long position on EUR/KRW only above 1,295, stop loss at 1,288 and target of 1,315.
