EUR/USD Outlook (16 December 2020)

FX:EURUSD   Euro / U.S. Dollar
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.
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New to trading. What's your opinion of Biden officially being elected today? Meaning stimulus for sure= inflation =weak dollar. During first stimulus major uptrend. I would think there would be the same. Then again not an economist. Thanks
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