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- EUR/KRW is currently trading around 1,299 mark.
- It made intraday high at 1,300 and low at 1,298 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,288 mark.
- A sustained close above 1,300 will take the parity higher towards key resistances around 1,308, 1,324, 1,332, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,288 will drag the parity down towards key supports around 1,274, 1,265, 1,244 and 1,222 marks respectively.
- Important to note here that 20D, 30D and 55D EMA 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 0.90 pct lower at 2,175.12 points.
We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,289 and target of 1,308/1,324.
