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- EUR/KRW is currently trading around 1,274 mark.
- Pair made intraday high at 1,274 and low at 1,269 levels.
- Intraday bias remains slightly bullish till the time pair holds immediate support at 1,267 mark.
- A sustained close above 1,280 will take the parity higher towards key resistances around 1,294, 1,302, 1,315, 1,327, 1,332 and 1,340 marks respectively.
- On the other side, a daily close below 1,267 will drag the parity down towards key supports around 1,258, 1,242 and 1,222 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.
- Seoul shares open up 0.36 pct.
We prefer to take long position on EUR/KRW only above 1,280, stop loss at 1,267 and target of 1,302.
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