Trade tension is easing-World markets rose

A White house trade advisor announced the U.S. is talking with the Chinese government and hope that China will work with U.S.A on Monday. This is the optimistic sign for world stock market so Dow Jones rose 669 point on Monday and major indices in Asia also rose on Tuesday. I think China try to avoid “Trade war” so his game may just scare the world economy but it may not affect to the economic growth.
While euro and pound rose closing to the last high of the year but it may drop and move in flat. I suggest EUR/USD resistance line at 1.2500 and support line at 1.2200 while GBP/USD resistance line 1.4300 and support line at 1.3800. U.S. GDP of fourth quarter 2017 at 19.30 p.m. may give positive for greenback and New York stock market, if it reaches 2.7% or higher. Furthermore, pending home sale in February at 21.00 p.m. also may give positive support to USD, stock market and property shares, if it is better than 2.1%.
Brent oil future may rise higher than 70 USD per barrel again, if U.S. crude oil inventories at 21.30 p.m. reduce. Crypto-market struggles after Bitcoin fell lower than 8,500USD and Ethereum fell the lowest of 2018 at 450.33 USD on Tuesday. If ETH drops lower than 450 USD, it may decrease to 380 USD.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.

Olymp Trade Review