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- EUR/KRW is currently trading around 1,313 mark.
- It made intraday high at 1,314 and low at 1,312 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,302 mark.
- A sustained close above 1,311 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,311 will drag the parity down towards key supports around 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 0.74 point lower at 2,076.25.
- South Korea’s GDP q/q stands at 0.4 vs 1.0 previous release (expected 0.4).
We prefer to take long position on EUR/KRW around 1,311, stop loss at 1,302 and target of 1,319/1,327.
