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Will Brent head up to 80USD?

Olymp Trade

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Brent price rose 3-year highest after Trump abandoned an agreement reached in late 2015. U.S. plans to impose new sanctions against Iran even UN and other countries such as U.K., France and Germany still keep Iran deal. Brent future rose to 77.80 on Thursday because investor worries about reducing oil supply. If the United State will do a new sanction with Iran, Brent may rise to 80 USD/barrel. I suggest support line at 75.5 USD.

Euro rose held steady on Thursday and it may rise above 1.900, if ECB chair may speak positively at 20.15 p.m. about economy growth in European zone. While Loonie may hold above 1.2800 await employment change of April in Canada at 19.30 p.m. which forecast 17400 positions. I think if Canadian employment change is higher than expected, USD/CAD may fall lower than 1.2800 points.
Iran tension also may rise gold rice higher than 1,315 USD. Furthermore, trading volume of crypto-market in Iran is still active around 2.5 billion dollar. I think a new sanction may stimulate financial industry in Iran to develop “Blockchain technology.” Bitcoin may move around 8,700-9,500USD.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.

Olymp Trade Review

Source: https://olymptrade.com/
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