FxWirePro: EUR/KRW remains well supported above 1,300 mark, further sideways movement likely
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 …
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.
