- EUR/KRW is currently trading around 1,305 mark.
- Pair made intraday high at 1,305 and low at 1,302 levels.
- Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,298 to 1,315 marks.
- A sustained close above 1,315 will take the parity higher towards key resistances around 1,327, 1,338, 1,358 and 1,380 marks respectively.
- On the other side, a daily close below 1,298 will drag the parity down towards key supports around 1,290, 1,282, 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Seoul shares open down 0.16 pct.
- Korea, South Aug 2018 export growth revised stays flat at 8.7 % vs previous 8.7 %.
- Korea, South Aug 2018 import growth revised increase to 9.4 % vs previous 9.2 %.
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.
