FxWirePro: EUR/KRW moves in stiff boundaries, further sideways movement likely

• EUR/KRW is currently trading around 1,292 mark.
   
• Pair made intraday high at 1,298 and low at 1,292 levels.
   
• Intraday bias remains neutral till the time pair moves in stiff directions from 1,290 to 1,298 mark.
   
• A sustained close above 1,299  will take the parity higher towards key resistances around 1,308, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
   
• On the other side, a daily close below 1,292 will drag the parity down towards key supports around  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 down and confirms the bearish trend in a daily chart.
   
• Seoul shares open down 0.21 pct.
   
• Korea, South August 2018 fx reserves decrease to 401.13 usd vs previous 402.45 usd.

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.