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- EUR/KRW is currently trading around 1,259 mark.
- It made intraday high at 1,260 and low at 1,258 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,257 mark.
- A sustained close above 1,257 will take the parity higher towards key resistances around 1,272, 1,277, 1,282, 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,257 will drag the parity down towards key supports around 1,246, 1,234, 1,218 and 1,206 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Seoul shares was trading 0.87 pct lower at 2,095 points.
- Korea, South Nov 2018 FX reserves increase to 402.99 usd vs previous 402.75 usd.
We prefer to take short position on EUR/KRW only below 1,257, stop loss at 1,270 and target of 1,234.
