{"id":12578,"date":"2024-04-18T09:17:55","date_gmt":"2024-04-18T09:17:55","guid":{"rendered":"https:\/\/www.sevenstarfx.com\/blog\/?p=12578"},"modified":"2024-04-18T09:17:55","modified_gmt":"2024-04-18T09:17:55","slug":"daily-market-outlook-18-april-2024-2","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-18-april-2024-2\/","title":{"rendered":"Daily Market Outlook, 18 April, 2024"},"content":{"rendered":"\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\"><strong>Market Wrap: Stocks, Bonds, Commodities<\/strong><\/span><\/h3>\r\n\r\n\r\n\r\n<p>US stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious US Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings.<\/p>\r\n\r\n\r\n\r\n<p>The Dow Jones Industrial Average fell 45.66 points to 37,753.31, the S&amp;P 500 loss 0.58% to 5,022.21 and the Nasdaq Composite descend 181.88 points to 15,683.37.<\/p>\r\n\r\n\r\n\r\n<p>MSCI\u2019s index of Asia-Pacific stocks outside Japan is increase 0.98% to 641.81 levels. The Australian index was higher by 0.48% to 7,642.10. Japanese Nikkei Index surged 0.14% today.<\/p>\r\n\r\n\r\n\r\n<p>European stocks were mixed on Thursday, with the Stoxx Europe 50 Index increase 0.42% to 4,934.45, Germany&#8217;s DAX drop 0.05% to 17,781.45, and France&#8217;s CAC higher 0.47% to 8,019.61 and U.K.&#8217;s FTSE 100 gain 0.49% to 7,887.06.<\/p>\r\n\r\n\r\n\r\n<p>Benchmark 10-year U.S. Treasury rose as demand for safe assets surged again, today 10-year bond yields negative 0.37% to 4.567.<\/p>\r\n\r\n\r\n\r\n<p>Oil prices were little changed after a 3% drop in the previous session as the market remains concerned about demand this year and on signs that a wider conflict in the key Middle East producing region could be avoided.<\/p>\r\n\r\n\r\n\r\n<p>Spot Brent crude oil descend 0.32% to $87.02 per barrel. US West Texas Intermediate crude is down 0.46% to $82.36 a barrel.<\/p>\r\n\r\n\r\n\r\n<p>The yellow metal gold is increase 0.28% to 2,395.15 dollars per ounce.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\"><strong>Market <span style=\"color: #cf2e2e;\">Wrap:<\/span> Forex<\/strong><\/span><\/h3>\r\n\r\n\r\n\r\n<p>The dollar fell for a second day on Thursday after a rare warning by the finance chiefs of the United States, Japan and Korea over the sharp decline in other currencies, which in turn offered the yen some rare respite.<\/p>\r\n\r\n\r\n\r\n<p>Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which drop 0.07% to 105.690.<\/p>\r\n\r\n\r\n\r\n<p>The Euro US Dollar (EUR\/USD) is a widely traded pair that is up 0.04% today. This left the pair trading around $1.06750.<\/p>\r\n\r\n\r\n\r\n<p>The Japanese yen was negative against the U.S. dollar on Thursday. Today USD\/JPY is drop 0.03% to the 154.34 level.<\/p>\r\n\r\n\r\n\r\n<p>Another commodity-related currency positive against the U.S dollar, AUD\/USD rose 0.22% to 0.64490, and NZD\/USD surged 0.22% to 0.59280 level.<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">EUR\/USD Intraday:<\/span>\u00a0 Major trend on the upside\u00a0<\/h3>\r\n<p><strong>Our pivot point is at 1.06860<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action<\/strong>: Take buy positions above pivot level with targets at 1.07000 &amp; 1.07120 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: Below pivot looks for a further downside to 1.06700 &amp; 1.06580.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment:<\/strong> RSI is above 50 levels and pairs above its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12573 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/EURUSD-12-1024x491.png\" alt=\"\" width=\"1024\" height=\"491\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/EURUSD-12-1024x491.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/EURUSD-12-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/EURUSD-12-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/EURUSD-12-1536x737.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/EURUSD-12.png 1917w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">GBP\/USD Intraday: <\/span>Major trend on the upside<\/h3>\r\n\r\n\r\n\r\n<p><strong>Our pivot point is at 1.24710<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action<\/strong>: Buy positions above pivot with targets at 1.24950 &amp; 1.25130 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: The price below pivot would call for further downside to 1.24460 &amp; 1.24280.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>:\u00a0 RSI is above 50 levels and Pairs above its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12574 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/GBPUSD-12-1024x491.png\" alt=\"\" width=\"1024\" height=\"491\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/GBPUSD-12-1024x491.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/GBPUSD-12-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/GBPUSD-12-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/GBPUSD-12-1536x737.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/GBPUSD-12.png 1917w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">USD\/JPY Intraday:<\/span> Trend on the downside\u00a0<\/h3>\r\n\r\n\r\n\r\n<p><strong>Our pivot point is at 154.390<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price\u00a0Action:<\/strong> Sell position below pivot with the target at 154.050 and 153.760 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: The upside breakout of the pivot would call for 154.760 and 155.040.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: MACD is below 50 levels and Pairs below its 55MA.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12575 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/USDJPY-12-1024x491.png\" alt=\"\" width=\"1024\" height=\"491\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/USDJPY-12-1024x491.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/USDJPY-12-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/USDJPY-12-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/USDJPY-12-1536x737.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/USDJPY-12.png 1917w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">AUD\/USD Intraday:<\/span> Trend on the upside<\/h3>\r\n\r\n\r\n\r\n<p><strong>Our pivot point is at 0.64480<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action:<\/strong> Buy positions above pivot with targets at 0.64700 &amp; 0.64870 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: Below pivot looks for a further downside with 0.64260 &amp; 0.64100 as targets.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: RSI is above 50 levels and pairs above its 20MA &amp; 55MA.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12571 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/AUDUSD-11-1024x491.png\" alt=\"\" width=\"1024\" height=\"491\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/AUDUSD-11-1024x491.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/AUDUSD-11-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/AUDUSD-11-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/AUDUSD-11-1536x737.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/AUDUSD-11.png 1917w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">CRUDEOIL Intraday:<\/span> Resistance level at 82.43<\/h3>\r\n<p class=\"wp-block-heading\"><strong>Our pivot point is at 82.43<\/strong><\/p>\r\n<p><strong>Preferable Price Action<\/strong>: Below pivot sell oil with 81.55 &amp; 80.85 as targets.<\/p>\r\n\r\n\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: Buy crude above pivot with targets at 83.33 and 84.14 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: MACD is negative territory and pairs below its 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12572 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/CRUDEOIL-13-1024x491.png\" alt=\"\" width=\"1024\" height=\"491\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/CRUDEOIL-13-1024x491.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/CRUDEOIL-13-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/CRUDEOIL-13-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/CRUDEOIL-13-1536x737.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/CRUDEOIL-13.png 1917w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">XAU\/USD Intraday:<\/span> Trend on the upside<\/h3>\r\n\r\n\r\n\r\n<p><strong>Our pivot point is 2375.70<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action<\/strong>: Further upside to 2392.40 and 2404.80.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: If the price gives an downside breakout of a pivot, then the price extends to 2360.60 and 2348.00.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: MACD is above 50 levels and pairs above its 20MA.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12577 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/XAUUSD-12-1024x491.png\" alt=\"\" width=\"1024\" height=\"491\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/XAUUSD-12-1024x491.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/XAUUSD-12-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/XAUUSD-12-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/XAUUSD-12-1536x737.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/XAUUSD-12.png 1917w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">Dow Jones Intraday:<\/span> Trend on the upside<\/h3>\r\n<p class=\"wp-block-heading\"><strong>Our pivot point is 37,838.70<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action<\/strong>: Take buy positions above the pivot with targets at 37,990.30 &amp; 38,106.10.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: Below 37,838.70 looks for further downside to 37,699.50 &amp; 37,594.80.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: RSI is above 50 levels and Pairs above its 20MA &amp; 50MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12576 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/WS-30-2-1024x491.png\" alt=\"\" width=\"1024\" height=\"491\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/WS-30-2-1024x491.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/WS-30-2-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/WS-30-2-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/WS-30-2-1536x737.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/04\/WS-30-2.png 1917w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><\/figure>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Market Wrap: Stocks, Bonds, Commodities US stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious US Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly&hellip; <\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[124,89,329,10,28,3,155,220,26,328,33,327,72,323,31,101],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Market Outlook, 18 April, 2024<\/title>\n<meta name=\"description\" content=\"Learn effective forex trading strategies and stay updated with the latest market trends. 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