US stocks closed higher on Tuesday, as gains in Basic Materials, Industrials, and Financials lifted the market. The Dow Jones rose by 0.72%, the S&P 500 by 0.16%, and the NASDAQ lost 0.18% from its value. The US dollar rose against a basket of major currencies on Tuesday amid speculation of the next Federal Reserve Chair. Gold fell, closing at $1,275 an ounce. Crude Oil rose, closing at $52.41 a barrel.
The euro rose versus the dollar, closing at 1.1762. On the 8-hour chart, the pair is trading below its support level at 1.1680. Holding these conditions may take the pair even higher towards 1.19. However, with the ADX indicator below 20, a drop towards 1.16 can be expected. The pound fell versus the dollar, closing at 1.3132. On the daily chart, the GBP/USD pair is trading above the bullish trendline. As long as the pair is trading above this level, a rise towards 1.3250 can be expected. Breaking below the trendline may take it towards 1.30. Today, the Prelim GDP is expected unchanged at 0.3%.