FX.co ★ EUR/USD - Caution - for June 19, 2013 (daily strategy)

The EUR/USD pair is very slow in movements from the European session and it may extend until noon ET. In this context it moves within the 1.34. It did not exceed the maximum on Tuesday and today it was 1.3415 so far. Overcoming this level, it extends its gains to 1.3431 area, the break of this level could take the euro to the second weekly resistance of 1.3516, without much difficulty. But the break in downward direction, 1.3360, changes the direction of pair which in this case will not have a flat very near, with a fall to at least 1.3260 during the following hours. Therefore, we recommend great caution because the Fed today announces or not announces a cut in its plan to stimulate the economy.

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