27.03.201721:29:00UTC+00Fxwirepro: South Korean Won falls Against Euro Despite Higher Than expected Gdp Data
EUR/KRW is currently trading around 1,207 mark.
Pair made intraday high at 1,208 and low at 1,205 levels.
Intraday bias remains bullish till the time pair holds key support at 1,203 mark.
A daily close below 1,205 will drag the parity down towards key supports around 1,200, 1,191, 1,184, 1,178 and 1,163 marks respectively.
Alternatively, a sustained close above 1,205 will take the parity higher towards key resistances around 1,209, 1,214, 1,228, 1,233, 1,242 and 1,252marks respectively.
Seoul shares open up 0.51 pct at 2166.58.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
South Korea’s Q4 GDP growth q/q increases to 0.5 % vs previous 0.4 %.
South Korea’s Q4 GDP growth y/y increase to 2.4 % vs previous 2.3 %.
We prefer to take short position in EUR/KRW around 1,208, stop loss at 1,219 and target of 1,200/1,191.
Maradok 
