Oil’s Fundamental Outlook Mired by Great Lockdown
The price of oil recovers from the collapse in the May futures contract, but the economic shock from COVID-19 may continue to drag on crude as the Great Lockdown disrupts global demand, with the oil surplus raising the cost of storage. FUNDAMENTAL FORECAST FOR CRUDE OIL: BEARISH The fundamental outlook for crude remains bearish even though the Organization of
US Dollar Forecast: Volatility? Yes; Direction? Unclear – Key Levels for DXY
✓ The US Dollar (via the DXY Index) has been trading in an ever-tightening range, with implications for pairs like EUR/USD and USD/JPY.✓ EUR/USD’s symmetrical triangle can break in either direction, while USD/JPY’s technical outlook is less enthusiastic.✓ DXY made highs of 103 which lead to USDINR touching 77 levels. Will the coming recession, weaken ruppee to 80
EUR/USD Technical Analysis: Euro Perched at Key Trend Barrier
Technical Analysis: BEARISH The Euro was knocked back lower after a test of resistance near the 1.10 figure, with prices now testing rising trend support limiting the downside for nearly a month. Making the case for lasting weakness probably calls for a move through that to close under the lower bound of the 1.0783-1.0880 zone.
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