FX.co ★ EUR/USD analysis for December 11 2020 - Upside continuation is on the way towards 1.2160

European Commission president, Ursula von der Leyen, briefs the press

Fairness is key on level playing field

• This is not to say we'd require UK to follow us every time we raise standards
• UK would remain free to decide
• Have not bridged differences on fisheries
• We decide on Sunday whether we have conditions for a deal or not

She concludes by saying that "in three weeks, it will be new beginnings for old friends" in a nod to the end of the Brexit transition period on 31 December. Or so, that is supposedly the "deadline" for now.

As much as there is the risk where they might reach a decision for a no-deal outcome this weekend, one can't help but wonder that surely they will still find some reason to head back to the negotiating table before 31 December.

Further Development

Analyzing the current trading chart of EUR, I found that the sellers got exhausted today and that there is the breakout of downside trend channel that happened yesterday, which is good sign for further rise.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got VIX and Lumber today and on the bottom Lean Hogs and Orange Juice.

Key Levels:

Resistance: 1,2170

Support level: 1,2095