Biden's stimulus announcement fails to move the needle in currency markets.- EUR/USD trades in a sideways manner near 1.2155.
- Thursday's indecisive Doji candle has neutralized immediate bearish bias.
The US President-elect Joe Biden unveiled a much-anticipated coronavirus rescue plan a few minutes before press time, promising $2,000 in stimulus cheques to Americans, social equity, infrastructure spending, and a potential minimum wage of $15 per hour.
However, Biden did not give away the total size of the stimulus program, which, according to media reports released early Friday, is $1.9 trillion.
So far, Biden's stimulus talk has failed to inject volatility in the forex markets, leaving EUR/USD sidelined near 1.2155.
On Thursday, the currency pair traded back and forth and ended on a flat note, forming a Doji candle on the daily chart. A sign of indecision, the Doji has neutralized the short-term bearish bias put forward by the last week's rising wedge breakdown and made Friday's close pivotal.
Source from https://www.fxstreet.com/news/eur-usd-price-analysis-muted-reaction-to-bidens-stimulus-talk-fridays-close-pivotal-202101150107
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