FxWirePro: South Korean won falls against major peers as GDP data misses expectations

• EUR/KRW is currently trading around 1,289 mark.
   
• It made intraday high at 1,293 and low at 1,287 levels.
   
• Intraday bias remains bullish for the moment.
   
• A sustained close above 1,287 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 1,287 will drag the parity down towards key supports around 1,268, 1,257, 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 0.25 pct.
   
• Korea, South Q1 2019 GDP growth qq advance decrease to -0.3 % (forecast 0.3 %) vs previous 1 %.
   
• Korea, South Q1 2019 GDP growth yy advance decrease to 1.8 % (forecast 2.5 %) vs previous 3.1 %.

We prefer to take long position on EUR/KRW around 1,285, stop loss 1,277 and target of 1,294/1,307.