FxWirePro: South Korean won trades almost flat after revised trade balance data

• EUR/KRW is currently trading around 1,285 mark.
   
• It made intraday high at 1,287 and low at 1,285 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 1,289 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,280 will drag the parity down towards key supports around 1,268, 1,257, 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. Current upside movement is short term trend correction only.
   
• Seoul shares open up 0.22 pct.
   
• Korea, South Dec 2018 export growth revised decrease to -1.3 % vs previous -1.2 %.
   
• Korea, South Dec 2018 trade balance revised decrease to 4.3 usd vs previous 4.56 usd.
   
• Korea, South Dec 2018 import growth revised increase to 1.2 % vs previous 0.9 %.

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.