- EUR/KRW is currently trading around 1,317 mark.
- It made intraday high at 1,319 and low at 1,317 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,319 mark.
- A sustained close above 1,319 will take the parity higher towards key resistances around 1,327, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,317 will drag the parity down towards key supports around 1,311, 1,302, 1,290, 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- South Korea’s Kospi was trading 0.90 point higher at 2,078.44.
We prefer to take short position on EUR/KRW only below 1,311, stop loss at 1,322 and target of 1,302/1,290.