FxWirePro: South Korean won rises gradually against euro after CPI, GDP data

• EUR/KRW is currently trading around 1,274 mark.
   
• It made intraday high at 1,279 and low at 1,274 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1,282 mark.
   
• A sustained close above 1,282 will take the parity higher towards key resistances around 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
   
• On the other side, a daily close below 1,275 will drag the parity down towards key supports around  1,265, 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.
   
• Korea, South Q4 2018 GDP growth qq revised stays flat at 1 % vs previous 1 %.
   
• Korea, South Feb 2019 CPI growth mm increase to 0.4 % (forecast 0.5 %) vs previous -0.1 %.
   
• Korea, South Feb 2019 CPI growth yy decrease to 0.5 % (forecast 0.5 %) vs previous 0.8 %.
   
• Seoul shares open down 0.33 pct.

We prefer to go short on EURKRW around 1,278, stop loss at 1,284 and target of 1,265.