Wall Street had best beginning of the year

According to some of the major U.S. financial companies, which reported strong fourth quarter results, Dow Jones rose 228.46 points and made an all-time high. The S&P 500 also reached a record high 2,786.24 points and Amazon shares rose above $1,300 for the first time. In my opinion, investors in Asian may be positive and invest actively in stock market following the best starting of the year of U.S. stock market. Nikkei may open higher following Wall Street as well as Korea stock exchange may edge higher supporting by the good external factors and the eased tension on Korea peninsular.
The lower U.S. CPI on Friday effects greenback weaker and greenback may keep its bearish trend today. I think greenback may not decline strongly as last week but it may move sideways down. In my view, the low inflation in the United State may give negative for U.S. economic growth in middle term and long term. Euro may try to hit 1.2300USD so I suggest the resistance level at 1.2300 points and support level at 1.200 points.
The weaker U.S. dollar supported gold price rose to 1334.90$ on Friday. If gold price breaks 1340$, it may rise to 1350$. However, I suggest the support level is at 1312$. Oil price also have a strong bullish trend and it may rise to 100$ from the reversal pattern. I suggest the support level at 68.38$.
More than 100,000 South Korea residents have signed petitions asking the government there to step back from any plans to close the country's cryptocurrency exchanges. I think if South Korean government can find the good solution for crypto market, most crypto currencies will change the trend into bullish such as BTC, XRP and LTC.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

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