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technical analysis

The fourth quarter GDP growth in the United States stood at 2.1%. This was in line with estimates and unchanged from the preliminary release. There were some upward revisions to private inventory investments, exports and federal spending. Still, the fourth quarter GDP is one of the worst readings since 2016.

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Eurozone Economic Confidence Hits a 9-Month High

The survey from the European Commission on Thursday showed that the economic confidence surged to a nine-month high in February. This was the fourth consecutive monthly increase. The economic sentiment index rose to 103.5 in February after a revised 102.6 in January. Economists forecast that the index would fall to 102.6 during the month.

EURUSD is Picking Up Momentum

The currency pair is retreating after hitting the resistance level near 1.1000 region. Price action has turned bullish in the short term. Depending on how price reacts at this level, a bear...

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