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| EUR/USD daily chart, source:FXDD.com |
Many of economists look this year with recession carefully, and Jarome Powell, Chair of Federal Reserve Board hinted last year that his position was switched to dovish seat. Global economy except the United States isn't predicted to be good, either. The investors in stock markets around world can get short bias, but what bias in forex?
The value of the currencies are determined with the relative economy among the countries. In this case, one of the safety asset, greenback was supported by traders, investors and economists before, but it's not clear in this year.
The daily chart of EUR/USD was chosen to analyse the market this time. The daily charts were not used as the analysis tool in Gjallarhorn. But these time don't show the explicit chart or signals in hours charts and daily chart was picked up.
The falling daily chart turned the direction since last mid-November. There are price up and down, but it has kept the mild upward trend.
The short-time chart such as four-hour chart, one-hour chart show the just vibrating price movement, but the longer hints about the direction. Of course, no one knows how long the trend continues.
Though there are correction some times, the long bias to euro may be attractive now.
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