US stocks closed higher on Wednesday, as gains in Consumer Goods, Telecoms, and Technology lifted the market. The Dow Jones rose by 0.03%, the S&P 500 by 0.14%, and the NASDAQ added 0.32% to its value. The US dollar rose against a basket of major currencies on Wednesday, as investors awaited fresh information on the fate of a US tax reform bill. Today, the US Unemployment Claims is expected at 232K vs. 229K previously. Gold rose on Wednesday, closing at $1,281 an ounce. Crude Oil fell, closing at $56.96.
The euro fell versus the dollar, closing at 1.1594. On the 2-hour chart, the EUR/USD pair is trading above its Moving Average. Maintaining these conditions may take it even higher towards 1.1680, while breaking below the SMA could lead to a drop towards 1.1520. The pound fell versus the dollar, closing at 1.3118. On the 4-hour chart, the GBP/USD pair is trading above its support level at 1.3050. Maintaining these conditions may take it higher towards 1.3250, but with the ADX indicator below 20, a drop towards 1.30 can be expected.
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