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technical analysis

Equity markets are holding steady as they trade close to the all-time highs. This comes amid a mixed investor sentiment. Gold prices also continue to hold steady. The economic calendar is generally quiet and Powell’s speech did not give much for investors to digest.

Eurozone Industrial Production Data

Industrial production in the Eurozone fell more than forecast in the month of December. Official data from Eurozone showed that industrial production fell 2.1% on the month in December. This follows a flat print in November. The economist’s forecasts were for a 1.7% decline. All aspects of the production fell. The data follows weak manufacturing and industrial figures from Germany.

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EURUSD Could be Set for a Correction

Price action in EURUSD indicates a possible correction might be underway. The Stochastics on the 4-hour chart suggests a possible bullish divergence. Price action needs to break past the pivot ...

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