Wall Street finished higher on Friday, led by gains in consumer stocks, even as possible government shutdown loomed. The Dow Jones was up by 0.21%, the S&P 500 added 0.44%, and the NASDAQ gained 0.55%. The US dollar gained lower against the other major currencies on Friday, holding back amid fears of a potential government shud down. Gold traded higher, closing at $1,335 an ounce. Crude Oil traded lower, closing at $63.43 a barrel.
The euro traded higher versus the dollar, closing at 1.2261, as the European Central Bank began unwinding loose monetary policy at a faster pace. On the 2-hour chart, the pair is trading above its moving average at 1.2245 with an RSI indicator above 50. Maintaining these conditions may take the pair even higher towards 1.24, while breaking below the SMA could take the pai down towards 1.21. The pound traded higher versus the dollar, closing at 1.3892. On the 4-hour chart, the pair is trading above the mid-band of the Bollinger Bands indicator at 1.3853 with an RSI indicator above 50,. Maintaining these conditions may take the pair higher towards 1.40, while breaking below the mid-band may start a strong bearish trend towards 1.37.
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