FxWirePro: South Korean won trades marginally higher in early Asia on robust GDP data

• EUR/KRW is currently trading around 1,283 mark.
   
• It made intraday high at 1,288 and low at 1,283 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1,288 mark.
   
• A sustained close above 1,289 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,289 will drag the parity down towards key supports around 1,276, 1,268, 1,257, 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 0.07 pct.
   
• Korea, South Dec 2018 PPI growth yy decrease to 1 % vs previous 1.5 % (revised from 1.6 %).
   
• Korea, South Dec 2018 PPI growth mm increase to -0.5 % vs previous -0.7 % (revised from -0.7 %).
   
• Korea, South Q4 2018 GDP growth qq advance increase to 1 % (forecast 0.6 %) vs previous 0.6 %.
   
• Korea, South Q4 2018 GDP growth yy advance increase to 3.1 % (forecast 2.8 %) vs previous 2 %.

We prefer to take short position on EUR/KRW around 1,285, stop loss at 1,290 and target of 1,276.