Brent rose above 75 USD per barrel early on Tuesday because fuel is rising at and Trump may impose sanctions against Iran and OPEC cuts supply. Stephen Innes, head of trading for Asia/Pacific at futures brokerage OANDA said new sanctions against Tehran "could push oil prices up as much as $5 per barrel." I think this week Brent may hold steady above 73 USD per barrel until clear decision. Today U.S. crude oil inventories at 21.30 p.m. predicted decreasing 2.6 million barrels so Brent may hold steady and may rise up, if the actual releases lower.
U.S. dollar may keep rising or hold steady because of the high bond yield and worries about Fed may raise interest rate. Euro may try to hold 1.2150 dollar. British pond may swing around 1.3900 – 1.400 dollar. If pound fall lower than 1.3900, it may head down to 1.3750 points.
According to the reversal pattern “double bottom”, Bitcoin price may build this pattern but it may need to rise higher than confirmation line at 11,000 USD. I suggest the first resistance line at 10,000 because price may take a breath before rising above 10,000USD and volume decreases. While Bitcoin cash may rise above 1,600 and may head up to 2,000USD because of the strong bullish trend on the increasing volume.
By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.