FxWirePro: South Korean won trades marginally lower as industrial production, service sector output data miss expectations

• EUR/KRW is currently trading around 1,280 mark.
   
• It made intraday high at 1,281 and low at 1,278 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,274 mark.
   
• A sustained close above 1,284 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 1,276 will drag the parity down towards key supports around 1,270, 1,257, 1,246, 1,234, 1,218 and 1,206 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 0.41 pct.
   
• Korea, South Nov 2018 service sector output growth decrease to -0.2 % vs previous 0.6 % (revised from 0.3 %).
   
• Korea, South Nov 2018 industrial output growth decrease to -1.7 % (forecast -0.2 %) vs previous 1.3 % (revised from 1 %).
   
• Korea, South Nov 2018 industrial output yy decrease to 0.1 % (forecast 1.1 %) vs previous 10.9 % (revised from 10.7 %).
   
• Korea, South Jan 2019 BOK manufacturing BSI decrease to 72 balance vs previous 74 balance.
   
• Korea, South Nov retail sales s/adj +0.5 pct mth/mth.

We prefer to take short position on EUR/KRW only below 1,278, stop loss at 1,285 and target of 1,257/1,246.