FxWirePro: South Korean won remains almost unchanged after CPI, trade balance data

• EUR/KRW is currently trading around 1,290 mark.
   
• Pair made intraday high at 1,291 and low at 1,290 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,289 mark.
   
• A sustained close above 1,297 will take the parity higher towards key resistances around 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
   
• On the other side, a daily close below 1,289 will drag the parity down towards key supports around 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 up 0.27 pct.
   
• Korea, South Oct 2018 trade balance prelim decrease to 6.55 usd vs previous 9.57 usd.
   
• Korea, South Oct 2018 Nikkei markit manufacturing PMI decrease to 51 vs previous 51.3.
   
• Korea, South Oct 2018 CPI growth mm decrease to -0.2 % (forecast -0.25 %) vs previous 0.7 %.
   
• Korea, South Oct 2018 CPI growth yy increase to 2 % (forecast 1.7 %) vs previous 1.9 %.

We prefer to take short position on EUR/KRW only below 1,289, stop loss at 1,302 and target of 1,277/1,267.