US stocks traded mixed on Monday as gains in the Amazon share price countered losses from energy companies. The Dow Jones rose by 0.10%, the S&P 500 lost 0.04%, and the NASDAQ lost 0.15% from its value. The US dollar traded higher against the other majors as investors look ahead to Federal Governor Jerome Powell’s Congressional hearing. The New Home Sales came out higher than expected at 685K vs. 627K forecast. Today, CB Consumer Confidence is expected at 123.9 vs. 125.9 previously. Gold rose slightly, closing at $1,294 an ounce. Crude Oil fell, closing at $57.84 a barrel.
The euro traded lower against the US dollar. On the 4-hour chart, the EUR/USD pair is trading above the support level at 1.1860 with a positive RSI indicator above 50. Holding these conditions should push the pair higher rising towards 1.20, while breaking below the support level could take it down to around 1.17. The pound traded unchanged against the US dollar. On the 2-hour chart the GBP/USD pair is holding near the lower band of an ascending channel. Falling below should start a strong drop towards 1.32, while holding above the band should push the pair towards the upper band at 1.34.
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