- EUR/KRW is currently trading around 1,290 mark.
- It made intraday high at 1,291 and low at 1,289 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,282 mark.
- A sustained close above 1,288 will take the parity higher towards key resistances around 1,302, 1,323, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,282 will drag the parity down towards key supports around 1,274, 1,265 and 1,244 marks respectively.
- 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 Kospi was trading 0.25 points lower at 2,198.12.
We prefer to take long position on EUR/KRW only above 1,294, stop loss at 1,282 and target of 1,302/1,308.
