Wall Street finished higher on Tuesday as investors continued to bet on a solid quarter of corporate earnings amid the release of mostly bullish quarterly earnings reports on Tuesday. The Dow Jones was up by 0.10%, the S&P 500 added 0.22%, and the NASDAQ gained 0.71%. The US dollar traded lower against the other major currencies on Tuesday, as pressure on the greenback grows following trade action by the US against China and South Korea and concerns over what kind of trade message the Trump administration will give at Davos. Today, Existing Home Sales is expected at 5.72 million. Gold traded higher, closing at $1.341 an ounce. Crude Oil traded higher, closing at $64.47 a barrel.
The euro traded higher versus the dollar, closing at 1.2325. The euro continued to trend higher against the greenback. On the 2-hour chart, the pair is trading above the upper band of the Bollinger Band indicator at 1.2316 with an RSI indicator above 50. Maintaining these conditions may take the pair even higher towards 1.25, while breaking below the mid-band could take the pair down towards 1.21. The pound traded higher versus the dollar, closing at 1.4047. On the 1-hour chart, the pair is trading above its moving average at 1.3980 with an ADX indicator above 20. Maintaining these conditions may take the pair higher towards 1.42, while breaking the SMA may start a strong bearish trend towards 1.39. Today, Average Earnings Index is expected at 2.5%.
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