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FxWirePro: EUR/KRW moves directionless since last 2-week, stay neutral

  • EUR/KRW is currently trading around 1,276 mark.
     
  • Pair made intraday high at 1,278 and low at 1,276 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.
     
  • Seoul shares open up 0.47 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.

  • Market Data
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