Forex EUR/USD Daily Video, March 19, 2020

[Sive Morten]

Good morning,

Yesterday we talked on interesting EUR/GBP tendency and today it shows important progress, so that we could better understand now what to expect as from EUR as from GBP:

 

[sveckar22]

Mr. Sive what do you think of sudden appreciation of the US Dollar across all pairs. COT report wouldn’t suggest so much buying from Non-Commercial traders, is this flight to safety from other parts of the world?

Thank you

 

[sveckar22]

found out this video later

 

[minimax]

found out this video later

When, man, this is what I am talking about, BUT, this video was made before virus so some things might not come through.. gold 1375/50 and chanell, out of it, below 1040..

 

[Sive Morten]

Mr. Sive what do you think of sudden appreciation of the US Dollar across all pairs. COT report wouldn’t suggest so much buying from Non-Commercial traders, is this flight to safety from other parts of the world?

Thank you

In general, yes. USD usually is treated as a currency of repairing, as US is possessed as the center of future recovery, the safe haven. But even by technical view on the financial system - USD is 60+% of all currency in turnover, this is major reserve currency. In wealthy times, it is distributed, changed to invest in other assets, that provide greater return. In difficult time - the reverse process is coming - people demand for USD. And as it is more than 60%, for demand stands, other currencies stand under stronger pressure as this is not 1:1 proportion in demand ans supply.