Forex EUR/USD Daily Video, March 06, 2020

[Sive Morten]

Good morning,

EUR now is driven by global capital flows and technical tools have limited applicability. Thus, we try to follow conservative approach and consider patterns
that do not contradict to major tendency:

 

[minimax]

Agreed, we are driven, but maybe 1,13 is the Target on W TF. We all doubt € is so strong so €$ might be in expaneded ending diagonal.4H TF supports this thinking of mine.

Cable is creeping bit still looking as waitng for €$.

 

[Brett Reynolds]

Corona..Bulls...t!! and total manipulation of the Markets..!! It's Hilarious..!

 

[minimax]

Corona..Bulls...t!! and total manipulation of the Markets..!! It's Hilarious..!

I think we are just placing highs/lows before bigger moves in opposite direction..
NFP could start moves

 

[minimax]

It is really interesting that in this moment 74% traders are short €$ and we are going up.. Maybe this is number of traders not voulume of trades. If so, who needs such information if not so, what the hell is driving ˝market˝?

 

[Sive Morten]

It is really interesting that in this moment 74% traders are short €$ and we are going up.. Maybe this is number of traders not voulume of trades. If so, who needs such information if not so, what the hell is driving ˝market˝?

Minimax, this is unwind of carry trades - massive sell-off in USD assets, selling USD, buying back EUR and other currencies and payout short-term loans. Additionally, buying gold. People anticipate more rate cut from the Fed and it is no sense to keep US assets any more. 10-year yield below 1% first time in a history and will drop more. Fed is approaching fast to ECB levels... This is not market driving factors. That's why we see irrational behavior across the board.

 

[minimax]

Minimax, this is unwind of carry trades - massive sell-off in USD assets, selling USD, buying back EUR and other currencies and payout short-term loans. Additionally, buying gold. People anticipate more rate cut from the Fed and it is no sense to keep US assets any more. 10-year yield below 1% first time in a history and will drop more. Fed is approaching fast to ECB levels... This is not market driving factors. That's why we see irrational behavior across the board.

Thank you, Sive, I get it, but what kind of information it is, that 74% traders are short €$ but it goes up? Useless, if this data shows traders, because we people traders are in majority, I suppose, so why dont brokers (Dukas, IGMarkets...) tell volumes of those 74%, maybe is 40%?

 

[Sive Morten]

Thank you, Sive, I get it, but what kind of information it is, that 74% traders are short €$ but it goes up? Useless, if this data shows traders, because we people traders are in majority, I suppose, so why dont brokers (Dukas, IGMarkets...) tell volumes of those 74%, maybe is 40%?

It is because people do not hold EUR. They are neither hedgers no speculators. They bought it and payout loans. That's all, no impact on existed balance...