EUR/USD Outlook (16 December 2020)

Overall, EUR/USD is trending upwards.

The French flash PMI data will be released later at 1615 (SGT).

• French Flash Service PMI (Forecast: 39.9, Previous: 38.8 revised from 38.0)
  
• French Flash Manufacturing PMI (Forecast: 50.0, Previous: 49.6 revised from 49.1)
  

The German Flash PMI data will be released later at 1630 (SGT).

• German Flash Services PMI (Forecast: 44.1, Previous: 46.0 revised from 46.2)
  
• German Flash Manufacturing PMI (Forecast: 56.4, Previous: 57.8 revised from 57.9)
  

The eurozone flash PMI data will be released later at 1700 (SGT).

• Flash Manufacturing PMI (Forecast: 53.0, Previous: 53.8 revised from 53.6)
  
• Flash Services PMI (Forecast: 41.9, Previous: 41.7 revised from 41.3)
  

Currently, EUR/USD is moving towards the resistance zone of 1.21800 and the next support zone is at 1.19800.
With the ongoing negotiation of the post-Brexit trade deal, look for short-term buying opportunities of EUR/USD if it breaks the resistance zone of 1.21800.