EUR/USD is trading at 1.21484, 0.42% up since Wednesday. The EURO strongly moved higher against the soft greenback after U.S Fed failed to live up to the traders & investors expectations over tapering down the bond purchases program despite progressive economic conditions & stable labor sector. Also, the U.S President Biden’s speech focusing on $1.8 trillion plan for childcare& education will remain vital for EUR/USD. Last week, the better than expected PMI data turned out to be supportive for EUR/USD. The traders will monitor the result of CPI & GDP data will be released on Friday. As seen in the chart, the pair is floating near MA (10) & MA (20) indicating the possibility of breakdown or reversal. Wait & watch strategy may be adopted on daily basis.

Copper is trading at $9891.58, 0.22% up since previous close. Optimism towards global recovery & progressive distribution of vaccine doses across the world remains supportive for Copper since this may revive the consumption demand of base metals. Besides this, the weaker USD post disappointing FOMC meeting turned out to be positive for global commodities. Last week, the falling bond yields amid inflation concern cushioned the equity markets & commodities. The declining stock level of Copper at London Metal Exchange (LME) further pushed up the prices. As seen in the chart, the previous high may turn into major support level for current scenario & hence, buying on dips may be recommended for the day.

INDIA50 is trading at 15060, 0.37% up since previous day close. A strong breakout can be seen in INDIA50 amid global cues. The U.S Fed’s failure of not hinting towards bond purchase tapering dragged off the USD & pushed up the global indices. On global front, the efforts over providing necessary medical facilities & increasing the supplies of vaccine doses are in a progressive stage. This overshadows a panic of rising Covid-19 cases across the country crossing the daily toll above 300,000. The focus will remain on Biden’s speech unveiling the stimulus package worth $1.8 trillion for social plan. As seen in the chart, the INDIA50 successfully crossed upper trend-line of channel pattern & hence, further buying may be initiated on daily basis.