FX.co ★ Forecast for EUR/USD on November 30, 2020

EUR/USD

The euro gained 49 points last Friday on small volumes and a thin market, its aspiration to enter the target range of 1.2010/40 continues to be realized with the risk of a reversal, which is indicated by the divergence with the Marlin oscillator on the daily chart.

Also, on a weekly scale, the signal line of the Marlin oscillator is declining in its own descending channel. At the same time, a range of three figures began to form, the growth within it was clearly speculative. We believe that the final days of this speculation are now passing.

There is a strong rally on the four-hour chart, but Marlin is already in the overbought zone, the signal line of the oscillator has gone up from the range, and this may turn out to be a false exit. We are watching. It's too late to buy, it's too early to sell.

The EU has set another deadline for the Brexit talks, until December 4th. The parties will probably wait until the last one in order to complete this game with a decent face, even if there is nothing to talk about.