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- EUR/KRW is currently trading around 1,295 mark.
- Pair made intraday high at 1,296 and low at 1,295 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,298 mark.
- A sustained close above 1,296 will take the parity higher towards key resistances around 1,302, 1,313, 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
- On the other side, a daily close below 1,296 will drag the parity down towards key supports around 1,293, 1,282, 1,275, 1,264, 1,253 and 1,234 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 0.19 pct.
We prefer to take long position on EUR/KRW only above 1,298, stop loss at 1,287 and target of 1,305/1,313.
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