FX.co ★ EUR/USD - Strong resistance at 1.3428 - for June 18, 2013 (daily strategy)

In the European session the euro touched 1.34 area, however, it was unable to overcome it, due to the index issued by the Institute of German ZEW. Given that many are very optimistic for now, it is likely that during the next few hours it exceeds the maximum of 1.34 and look for the area 1.3428. This is a strong resistance, we believe that this area will stop the rise of this pair, so we recommend selling only if the pair makes a pullback to this level or trades below this. We must place our stop loss some 50 points above 1.3328 and for those operating in the medium term, above 1.35. We aim to find the nearest 1.3306, a close below this level will add strength to our bearish outlook with the end goal at 1.3184.

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