FxWirePro: EUR/KRW trades in narrow range after mixed data from South Korea

• EUR/KRW is currently trading around 1,337 mark.
   
• Pair made intraday high at 1,338 and low at 1,335 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 1,337 will take the parity higher towards key resistances around 1,349, 1,356, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,337 will drag the parity down towards key supports around 1,326, 1,320, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
   
• Seoul shares open up 0.18 pct at 2367.45.
   
• South Korea August Nikkei markit manufacturing PMI increase to 49.9 vs previous 49.1.
   
• South Korea August trade balance prelim decrease to 7.01 bln $ vs previous 10.30 bln $.
   
• South Korea August CPI growth m/m increase to 0.6 % vs previous 0.2 %.
   
• South Korea August CPI growth y/y increase to 2.6 % vs previous 2.2 %.
   
• South Korea Q2 GDP growth q/q stays flat at 0.6 % vs previous 0.6 %.
   
• South Korea Q2 GDP growth y/y stays flat at 2.7 % vs previous 2.7 %.

We prefer to take long position on EUR/KRW only above 1,338, stop loss at 1,326 and target of 1,349/1,356.

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