Better sentiment – No trade war

U.S. dollar was steady supporting by bond yield. USD/THB retested resistance at 32.270 points again on Monday.
The easing “Trade war” and confirming “Summit in Singapore” may pressure gold price to fall lower. Gold price may head down to 1,273 dollars, if no tension increases as well as U.S. dollar steady. If 10-year U.S. bond yield keep holding above 3%, it may support U.S. dollar to hold steady and rise up. EUR/USD fell lower in the morning on Monday. Euro fell very close to the support line at 1.170 dollar so it may touch or break the support line this week. Moreover, British pound also fell lower than the support line at 1.345 dollar after holding and moved flat for 2 weeks on Monday so it may decrease to 1.330 dollar. I suggest the support line for GBP/USD at 1.3350 on Tuesday.
FOMC - Lael Brainard said 'No Compelling Need' for U.S. central bank crypto and she believes that cryptocurrencies not pose a threat to financial stability. Furthermore, The European Union Industry, Research and Energy committee voted on Wednesday to recommend that small businesses look into “Blockchain” payment systems in a move aimed at relieving some of the costs associated with intermediary payment facilitators. Bitcoin price may stay above 8,000 dollar and try to rise to 9,000 USD.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.

Olymp Trade Review