Forex Analysis & Reviews: Forecast for EUR/USD on December 14, 2020

EUR/USD
Prime Minister Boris Johnson's Sunday talks with Ursula von der Leyen ended in the fact that the deadline for the talks was postponed until December 31. It is not entirely clear how the ratification of the agreement will take place, but we believe that with this decision, the parties decided to disguise and soften Brexit without a deal, so as not to bring down the markets and shock the population.

The daily chart shows that the price is staying closer to the upper level of 1.2175, rather than to the support of 1.2037, so there is still a possibility of reaching the upper target of 1.2230 with the divergence forming with the Marlin oscillator. When the price approaches the support of the embedded line of the price channel (1.2037), it will strengthen the option of a reversal from the current levels, without preliminary growth. The current situation is neutral.

The four-hour chart shows that the price has settled below the MACD line, but the signal line of the Marlin oscillator makes an attempt to enter the growth area, and this situation does not provide any advantage to any of the scenarios, the probability of growth and decline is the same.

Analysis are provided by InstaForex