16.06.2014 - Euro prepares for further reduction
Despite the slowdown in the decline, the likelihood of further fall of the euro remains high. Thus, the price continues to consolidate near the level of 1.3530. In the medium term the price will probably continue to move within the downward channel. To continue the movement the price needs to fix below 1.3500. The course of trading today will be affected by data on inflation in the euro area (09:00 GMT). We recommend holding short positions with the closest target near 1.3400.