Increasing tensions in Spain may impact markets

Euro fell lower against U.S. Dollar because of the better U.S. GDP. Euro may keep falling on Monday as the rising political tensions in Spain. In my opinion, 1.1700 is the resistance line. If euro breaks this line, it may recover.

Moreover, tension in Catalonia may also affect stock markets in European countries. European stocks and Madrid stock exchange may open lower. In contrast, gold price may hold steady. According to the trend line, gold price is still in the bearish trend but the trend can be changed. If gold price breaks the recent local trend line, it will rise up.

After the funeral of King Rama 9, Thai economy may grow actively. So Set may open higher on Monday. Oil price may hold steady or may keep rising higher, if OPEC will extend output supply to March 2018. The current price of Bitcoin may bubble so it may fall down. Today I suggest 5500$ will become a support line.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

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