FxWirePro: South Korean won gains sharply against euro after ECB meeting

• EUR/KRW is currently trading around 1,236 mark.
   
• Pair made intraday high at 1,237 and low at 1,232 levels.
   
• Intraday bias remains slightly bullish till the time pair holds immediate support at 1,232 mark.
   
• A sustained close above 1,232 will take the parity higher towards key resistance around 1,238, 1,242, 1,252, 1,260, 1,269 and 1,272 marks respectively.
   
• Key supports are seen at 1,232, 1,227, 1,222 and 1,210 marks respectively.
   
• Seoul shares open down 0.32 pct at 2024.52.
   
• Euro zone December refinancing rate stays flat at 0.00 % (forecast 0.00 %) vs previous 0.00 %.
   
• Euro zone December deposit rate stays flat at -0.4 % (forecast -0.4 %) vs previous -0.4 %.
   
• ECB lowers emergency funding cap for Greek banks by 200 mln euros to 50.7 bln euros- Bank of Greece.
   
• The ECB said Thursday it would reduce its monthly asset buys to 60 billion euros as of April, from the current 80 billion euros.
   
• The ECB added it reserved the right to increase the size of purchases again.

We prefer to go short on EUR/KRW around 1,240, with stop loss at 1,252 and target of 1,232/1,222.