EUR/USD Daily Analysis: June 14, 2019 The euro major pair dropped to a range lower than 1.1280 prior to the release of the US retail sales data. It is likely that markets will focus on the Fed more than the retail sales. There is an important shit in expectations after the analysts noted three rate cuts for the year. The meeting scheduled next week will determine the policymakers course of action. Meanwhile, the markets are hoping for a signal on their next move, even earlier than the July meeting. Thus, the rally of the EUR/USD was due to the shift. If this is confirmed, then there is a chance for an upward movement. There is a high probability that the markets will look for a chance to cell the dollar after the initial reaction in the results of the retail sales prior to the Fed meeting. The previous bear flag pattern in yesterday’s report is still significant with the lower target at 1.1260 as the euro major pair heads below with low momentum. Nonetheless, it is still not too far from the target. Yet, traders should monitor the level of 1.1280 in the US trading hours. The market tries to push it higher during the early European session but the rally was not sufficient to be sustained. The pair stays range-bound on the 4-hour chart. Traders should also get ready to have some volatility in the US session, although it will not be much given that its Friday. It is also important to note that a made a breakthrough to the target level of 1.1260 moves to a bearish confluence with a resistance level that is important last week. Hence, there is a possibility to have a retest to defend this area. A break higher than 1.1280 can open chances for an uptrend while the upcoming Fed meeting next week keep the bids for the pair at bay.