
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand below 23.6% retracement area. Bearish pressure is growing.
EU Market View
Asian equity markets began the week subdued and US equity futures marginally pulled back from record levels. European stock markets are seen opening lower Monday, in cautious trading ahead of a week which sees the start of the U.S. earnings season as well as a deluge of important economic data.
The U.S. economy, the world’s largest, is at an “inflection point”, U.S. Federal Reserve Chairman Powell said in an interview on Sunday, with stronger growth and hiring ahead thanks to the vaccine rollout and powerful policy support. However, a resurgence of the virus is still a serious risk, Powell added. U.S. coronavirus cases bottomed nearly a month ago and have edged up steadily since then. Overnight, India reported a record number of Covid-19 infections, overtaking Brazil to become the second-most affected country globally by the coronavirus.
The dollar languished near 2-1/2-week lows against major peers on Monday as a decline in Treasury yields restrained the U.S. currency. Both the dollar and Treasury yields are taking something of a breather after scaling multi-month peaks at the end of last month, powered by bets that an accelerating U.S. recovery from the pandemic will lift inflation faster than Federal Reserve policymakers anticipate.
Oil was down Monday morning in Asia, with U.S. Federal Reserve Chair Jerome Powell saying the U.S. economy was poised for stronger growth while also cautioning that COVID-19 remains a threat.
US President Biden aims to complete the infrastructure program by the summer, according to the US Energy Secretary.
EU Key Point
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
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