Today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1780 level and it is showing some very solid signs of moving upwards towards the 1.1800 level.
EUR/USD analysts have recently noticed that there is a lot of steam building up around the trading cross and it is going to take a while until it reaches the 1.1800 zone and at the bottom of this weakness stands the ongoing tensions rising in Spain regarding the Catalonia independence.
At the same time the European Central Bank is keeping a close eye on the effects of the exchange rate in the inflation segment and so far everyone is pointing out to the necessity of capital stimulus to avoid some major movements.
EUR/USD traders now believe that the release of the EMU data is going to land above most estimated levels and some positive vibes are going to come from the home sales data for the previous month.
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High = 1.1810
Low = 1.1770
S3 = 1.1719 S2= 1.1737 S1 = 1.1781
R1 = 1.1904 R2 = 1.1921 R3 = 1.1962
For the time being the EUR/USD shared currency pair is going upwards by a positive value of +0.41% and it is trading in the close vicinity of the 1.1801 level followed close up by the 1.1730 level then by the 1.1686 point and lastly ending with the solid 1.1662 level.
On the other side of the coin by jumping over the 1.1858 level this will clear the trading path towards the 1.1882 level at first followed close up by the 1.1914 point.