FxWirePro: EUR/KRW exhibits range bound movement, sustained close above 1,279 requires for upside rally

• EUR/KRW is currently trading around 1,280 mark.
   
• Pair made intraday high at 1,281 and low at 1,279 levels.
   
• Intraday bias remains neutral till the time pair holds immediate resistance at 1,279 mark.
   
• A sustained close above 1,279 will take the parity higher towards key resistances around 1,285, 1,292, 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
   
• On the other side, a daily close below 1,272 will drag the parity down towards key supports around 1,267, 1,258, 1,246 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.
   
• Korea, South Oct 2018 trade balance revised decrease to 6.47 usd vs previous 6.55 usd.
   
• Korea, South Oct 2018 import growth revised increase to 28.1 % vs previous 27.9 %.
   
• Korea, South Oct 2018 export growth revised stays flat at 22.7 % vs previous 22.7 %.
   
• Seoul shares open down 0.3 pct.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.