FxWirePro: South Korean won trades almost flat on the back of Full Moon festival holidays, stay neutral
EUR/KRW is currently trading around 1,312 mark. Pair made intraday high at 1,313 and low at 1,312 levels. Intraday bias remains neutral for the moment. A sustained close above 1,315 will take the parity higher towards ke…
Pair made intraday high at 1,313 and low at 1,312 levels.
Intraday bias remains neutral for the moment.
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 1,291, 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.
South Korean banks will be closed in observance of Full Moon Festival.
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.
