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 abov…
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.
