Wall Street finished at record highs on Monday as investor appetite for riskier assets resumed after the Senate reached a deal to end the government shutdown,. The Dow Jones was up by 0.77%, the S&P 500 added 0.81%, and the NASDAQ gained 0.98%. The US dollar traded higher against the other major currencies on Monday amid reports suggesting that the government secured enough support in the Senate to end the government shutdown. Gold traded unchanged, closing at $1,334 an ounce. Crude Oil traded higher, closing at $63.93 a barrel.
The euro traded unchanged versus the dollar, closing at 1.2260. On the 8-hour chart, the pair is trading above the mid-band of the Bollinger Band indicator at 1.2236 with an RSI indicator above 50. Maintaining these conditions may take the pair towards 1.24, while breaking below the mid-band could take the pair down towards 1.21. The pound traded higher versus the dollar, closing at 1.3985, its highest since June 2016 amid growing expectations that the Bank of England will tighten monetary policy this year. On the 1-hour chart, the pair is trading above its moving average at 1.3918 with an ADX indicator above 20. Maintaining these conditions may take the pair even higher towards 1.41, while breaking the SMA may start a strong bearish trend towards 1.38.
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