US stocks traded mixed on Tuesday, as gains in Utilities, Consumer Goods, and Telecoms were offset by losses in Financials, Consumer Services, and Oil & Gas. The Dow Jones rose by 0.04%, the S&P 500 fell by 0.02%, and the NASDAQ added 0.27% to its value. The US dollar rose against a basket of major currencies on Tuesday, as investors monitor progress on the US tax bill and the chances of a rate hike increase. Gold fell on Tuesday, closing at $1,277 an ounce. Crude Oil fell after OPEC said it expected a surge in North American shale output to cap demand for the cartel’s Crude Oil.
The euro fell versus the dollar, closing at 1.1598. On the 1-hour chart, the EUR/USD pair is trading above its moving average. Maintaining these conditions may take the pair even higher towards 1.17, while breaking below the SMA could lead to a drop towards 1.15. The pound fell versus the dollar, closing at 1.3171. On the 4-hour chart, the GBP/USD pair is trading near the upper band of the Bollinger Bands indicator. Maintaining these conditions may lift the pair towards 1.33. However, dropping towards the lower band may change the momentum and cause a fall towards 1.30.
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