Focus many economic indices

Major stock markets in Asia were mixed on Tuesday after investment is going back slowly to the United State. While U.S. 10-year bond yield stayed higher than 3% and support dollar to hold steady on Tuesday. I think the bullish trend of dollar is still strong.
I think manufacturing PMI in Germany and EU may hold euro may try to hold above 1.1750 dollar but it may not rise higher than 1.1800 on Wednesday. However, if manufacturing PMI in Germany at 14.30 is lower than 57.9, euro may fall lower than 1.17500 dollar. I suggest 1.1700 point for EUR/USD. British pound had fallen lower than 1.350 dollar since Monday and the bearish trend is still strong. Focus U.K. inflation in April at 15.30 which may support pound in short term. I suggest resistance line of GBP/USD at 1.350 and support line at 1.330. Despite all, U.S. dollar may continue its bullish strength supporting by U.S. economic data: new home sales at 21.00 which may release higher than 679,000 follow better building permits in April.
Reducing production and political issue in Venezuela support Brent oil rise above 79 USD per barrel on Tuesday morning. I think Brent oil may rise above 80 USD because America is preparing a new sanction for Venezuela. While Bitcoin price could not break 8,600 and fell lower on Tuesday. I suggest support line at 8,000 USD and it may move in flat.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.

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