Global stocks were mostly lower on Monday, following the weakness on Wall Street on Friday that stemmed from the weaker-than-expected retail sales report for December.
Daily Market Analysis
Most analysts claim EUR/USD will dip to 1.2000. After that, the pair should reverse to the upside.
Asian equity markets began the week cautiously after Friday’s losses on Wall St. Mixed Chinese GDP added to the tentative mood for stocks.
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US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19
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President-elect Biden will present details of his plans to support the economy through the pandemic, while Federal Reserve chairman Jerome Powell may offer some reaction in a speech later.
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With EUR/JPY, there are several technical observations that we may put to practical use and demonstrate some important basics of technical analysis. Let's get going.