The pair EUR/USD is up at the end of the day, but the vote of the catalan Parliament this evening will be decisive.
In effect, the break of the bevel, and my zone of 1.1750 has caused an increase in EUR/USD, reinforced this after by a general downward movement in the Dollar, pushing the pair to a high intraday at 1.1817.
The key resistance of the 1.1825 therefore remains intact at this stage, with a small decline of EUR/USD toward the 1.1800, while the attention turns to the catalan Parliament, which must vote to 18h on the support, or not, of the vote for the independence of Catalonia.
A positive result could weigh on the Euro on the Forex, so that if the vote does not allow a declaration of independence, the single currency could appreciate.
In case of increase, a break above 1.1825 could trigger an acceleration upward, fueled in particular by stops positioned above.
Above, the increase might indeed strengthen in the direction of 1.1860, 1.1920, then 1.1980/1.2000.
Has the downside, a return below the 1.1800 could jump-start the downward pressures and to encourage a fall towards the support zone of the 1.1720/1.1680, with thresholds to be monitored at 1.1775 and 1.1750.
Below, we’ll still have the area of 1.1660 to monitor, before targeting a return to the area of 1.1620/1.1580.
The economic calendar tomorrow will be fairly quiet, but we will watch closely in the evening the publication of the Minutes of the Fed..
The pair EUR/USD is currently trading at 1.1810 on the Forex.
Chart EUR/USD H1
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This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.