FX.co ★ EUR/USD analysis for December 07 2020 - Potential completion of the downside correction and start of the new up cyccle

The latest on the Brexit news front

European Commission president, Ursula von der Leyen, is to speak with UK prime minister, Boris Johnson, later today at 1600 GMT. Just be aware of the timing in case we hear of anything substantial after that.

Adding to tat, RTE's Tony Connelly also reports that talks could stretch on until Wednesday this week, citing EU chief negotiator, Michel Barnier:

BREAKING: The EU's chief negotiator has told MEPs that negotiations on a post-Brexit deal could continue until Wednesday but no further.

Further Development

Analyzing the current trading chart of EUR, I found that sellers got exhausted this morning and that we might see upside continuation.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Lumber and VIX today and on the bottom Nattural Gas and Platinum.

Key Levels:

Resistance: 1,2175

Support levels: 1,2075