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FX.co ★ Trader's diary for March 18, 2020, Oil fell amid coronavirus outbreak

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Forex Analysis:::2020-03-18T08:44:34

Trader's diary for March 18, 2020, Oil fell amid coronavirus outbreak

Trader's diary for March 18, 2020, Oil fell amid coronavirus outbreak

Oil, as can be seen on the chart, fell to $ 26 for two main reasons, first, OPEC Price War in Russia. Second, the global crisis due to coronavirus which leads to a drop in oil demand.

Trader's diary for March 18, 2020, Oil fell amid coronavirus outbreak

EURUSD:

The euro is trying to start a new wave of decline against the dollar.

Euro is in a fundamentally bad condition as Europe has become the center of the coronavirus pandemic, and the strongest economies namely Italy, Germany and France are at their most vulnerable state. Due to this, the economy will suffer serious losses.

From an economic point of view, the euro can fall right down to parity with the dollar.

You can keep sales from 1.1053.

Analyst InstaForex
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