- EUR/KRW is currently trading around 1,312 mark.
- It made intraday high at 1,319 and low at 1,307 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,298 mark.
- A sustained close above 1,307 will take the parity higher towards key resistances around 1,324, 1,332, 1,347 and 1,363 marks respectively.
- On the other side, a daily close below 1,307 will drag the parity down towards key supports around 1,298, 1,274, 1,265, 1,244 and 1,222 marks respectively.
- Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
- South Korea’s kospi was trading 2.90 pct lower at 2,100.12 points.
We prefer to take long position on EUR/KRW around 1,315, stop loss at 1,302 and target of 1,324/1,347.