{"id":3972,"date":"2021-04-23T09:18:51","date_gmt":"2021-04-23T09:18:51","guid":{"rendered":"https:\/\/blog.sevenstarfx.com\/?p=3972"},"modified":"2021-04-23T09:18:51","modified_gmt":"2021-04-23T09:18:51","slug":"daily-market-outlook-23-april-2021","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-23-april-2021\/","title":{"rendered":"Daily Market Outlook, 23 April, 2021"},"content":{"rendered":"<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Stocks, Bonds, Commodities<\/strong><\/span><\/h3>\n<p>Equity markets\u00a0across the world fell on Thursday weighed by Wall Street after reports that the Biden administration will propose a sharp increase to capital gains tax, while the dollar index rose as the euro and pound gave back recent gains.<\/p>\n<p>The Dow Jones Industrial Average fell 321.41 points, or 0.94%, to 33,815.9, the S&amp;P 500 lost 38.44 points, or 0.92%, to 4,134.98 and the Nasdaq Composite dropped 131.81 points, or 0.94%, to 13,818.41.<\/p>\n<p>A key gauge of Asian shares rose on Friday, supported by gains in China and a decision by the European Central Bank to maintain stimulus, while investors largely shrugged off the impact of a possible U.S. capital gains tax hike.<\/p>\n<p>MSCI\u2019s index of Asia-Pacific stocks outside Japan rose 0.75% to 885.24 levels. Australian index gained 0.08% to 7,060.70. Japanese Nikkei traded 0.57% lower to 29,020.60.<\/p>\n<p>European stocks were advance on Friday, with the Stoxx Europe 50 Index gained 0.97% to 4,014.80, Germany&#8217;s DAX rose 0.82% to 15,320.52, and France&#8217;s CAC higher 0.91% to 6,267.28, and U.K.&#8217;s FTSE 100 advance 0.62% to 6,938.24.<\/p>\n<p>Benchmark 10-year U.S. Treasury rose as demand for risky assets grows again, today 10-year bond yield flat to 1.559.<\/p>\n<p>Oil prices rose on Friday in hopes of a fuel demand recovery in the United States and Europe as economic growth picks up and lockdowns ease, but worries about India&#8217;s raging second wave of COVID-19 cases kept a lid on gains.<\/p>\n<p>Spot Brent crude oil gained 0.50% to $65.72 per barrel. US West Texas Intermediate crude advance 0.68% to $61.86 a barrel.<\/p>\n<p>The yellow metal traded higher 0.17% to 1785.20 dollars per ounce.<\/p>\n<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Forex<\/strong><\/span><\/h3>\n<p>The dollar weakened in early European trading Friday, sticking to narrow ranges as traders turn their attention onto next week\u2019s Federal Reserve meeting following the conclusion of the European Central Bank get-together.<\/p>\n<p>Today, the U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, lost 0.35% to 91.005.<\/p>\n<p>The Euro US Dollar (EUR\/USD) widely traded pair higher 0.38% today. This left the pairing trading around $1.20590.<\/p>\n<p>The Japanese yen rose against the U.S. dollar on Friday as the stock pushes lower. Today US\/JPY fell 0.05% to 107.900 level.<\/p>\n<p>Another commodity-related currency higher against the U.S dollar, AUD\/USD rose to 0.77380 and NZD\/USD gained 0.14% to 0.71810.<\/p>\n<hr \/>\n<h3><strong><span style=\"color: #cf2e2e\">EUR\/USD Intraday:<\/span> Trend on the upside<\/strong><\/h3>\n<p><strong>Our pivot point is at 1.20410<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Take long positions above pivot level with targets at 1.20700 &amp; 1.20850 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Below pivot looks for further downside to 1.20120 &amp; 1.19970.<\/p>\n<p><strong>Comment: <\/strong>Pair above its 20MA &amp; 55MA an RSI near 50 levels.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3976 size-large\" src=\"https:\/\/blog.sevenstarfx.com\/wp-content\/uploads\/2021\/04\/EURUSD-19-1024x574.png\" alt=\"\" width=\"1024\" height=\"574\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/EURUSD-19-1024x574.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/EURUSD-19-300x168.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/EURUSD-19-768x430.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/EURUSD-19-1536x861.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/EURUSD-19.png 1679w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p style=\"text-align: center;font-size: 11px\"><span style=\"color: #008000\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000\">Red Lines Indicates Support Levels\u00a0<\/span><br \/>\n<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>\n<hr \/>\n<h3><strong><span style=\"color: #cf2e2e\">GBP\/USD Intraday: <\/span>Trend may reverse<\/strong><\/h3>\n<p><strong>Our pivot point is at 1.39540<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Buy positions above pivot with targets at 1.39000 &amp; 1.39250 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: The price below pivot would call for further downside to 1.38070 &amp; 1.37850.<\/p>\n<p><strong>Comment<\/strong>: Price above its 20MA &amp; 55MA and RSI above 50 levels.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3977 size-large\" src=\"https:\/\/blog.sevenstarfx.com\/wp-content\/uploads\/2021\/04\/GBPUSD-16-1024x575.png\" alt=\"\" width=\"1024\" height=\"575\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/GBPUSD-16-1024x575.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/GBPUSD-16-300x168.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/GBPUSD-16-768x431.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/GBPUSD-16-1536x863.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/GBPUSD-16.png 1679w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p style=\"text-align: center;font-size: 11px\"><span style=\"color: #008000\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000\">Red Lines Indicates Support Levels\u00a0<\/span><br \/>\n<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>\n<hr \/>\n<h3><strong><span style=\"color: #cf2e2e\">USD\/JPY Intraday:<\/span> Trend on the downside<\/strong><\/h3>\n<p><strong>Our pivot point is at 108.100<\/strong><\/p>\n<p><strong>Preferable Price\u00a0<\/strong><strong>Action: <\/strong>Sell position below with the target at 107.800 and 107.670 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: The upside breakout of pivot would call for 108.400 and 108.530.<\/p>\n<p><strong>Comment<\/strong>: price below 20MA &amp; 50MA and MACD in negative territory.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3978 size-large\" src=\"https:\/\/blog.sevenstarfx.com\/wp-content\/uploads\/2021\/04\/USDJPY-17-1024x573.png\" alt=\"\" width=\"1024\" height=\"573\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/USDJPY-17-1024x573.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/USDJPY-17-300x168.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/USDJPY-17-768x430.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/USDJPY-17-1536x860.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/USDJPY-17.png 1679w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p style=\"text-align: center;font-size: 11px\"><span style=\"color: #008000\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000\">Red Lines Indicates Support Levels\u00a0<\/span><br \/>\n<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>\n<hr \/>\n<h3><span style=\"color: #cf2e2e\">AUD\/USD Intraday:<\/span> In consolidation zone<\/h3>\n<p><strong>Our pivot point is at 0.77150<\/strong><\/p>\n<p><strong>Preferable Price Action:<\/strong> Buy Positions above pivot with targets at 0.77550 &amp; 0.77750 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Below pivot looks for further downside with 0.76750 &amp; 0.76550 as targets.<\/p>\n<p><strong>Comment<\/strong>: Pair above its 20MA &amp; 55MA and RSI above 50 levels.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3979 size-large\" src=\"https:\/\/blog.sevenstarfx.com\/wp-content\/uploads\/2021\/04\/AUDUSD-16-1024x575.png\" alt=\"\" width=\"1024\" height=\"575\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/AUDUSD-16-1024x575.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/AUDUSD-16-300x168.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/AUDUSD-16-768x431.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/AUDUSD-16-1536x863.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/AUDUSD-16.png 1679w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p style=\"text-align: center;font-size: 11px\"><span style=\"color: #008000\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000\">Red Lines Indicates Support Levels\u00a0<\/span><br \/>\n<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>\n<hr \/>\n<h3><strong><span style=\"color: #cf2e2e\">CRUDEOIL Intraday: <\/span>Resistance at 62.25<\/strong><\/h3>\n<h4><strong>Our pivot point is at 62.25<\/strong><\/h4>\n<p><strong>Preferable Price Action<\/strong>: Below pivots sell Oil with 61.40 &amp; 60.90 as targets.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Buy crude above pivot with targets at 63.10 and 63.60 in extension.<\/p>\n<p><strong>Comment<\/strong>: Crude below its 20MA and MACD in positive territory.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3980 size-large\" src=\"https:\/\/blog.sevenstarfx.com\/wp-content\/uploads\/2021\/04\/CRUDEOIL-16-1024x577.png\" alt=\"\" width=\"1024\" height=\"577\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/CRUDEOIL-16-1024x577.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/CRUDEOIL-16-300x169.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/CRUDEOIL-16-768x433.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/CRUDEOIL-16-1536x865.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/CRUDEOIL-16.png 1679w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p style=\"text-align: center;font-size: 11px\"><span style=\"color: #008000\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000\">Red Lines Indicates Support Levels\u00a0<\/span><br \/>\n<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>\n<hr \/>\n<h3><strong><span style=\"color: #cf2e2e\">XAU\/USD Intraday:<\/span> Support at 1778.30<\/strong><\/h3>\n<p><strong>Our pivot point is at 1778.30<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Further upside to 1789.00 &amp; 1794.00.<\/p>\n<p><strong>Alternative Price Action<\/strong>: If the price gives a downside breakout of a pivot, then the price extends to 1768.00 and 1763.00.<\/p>\n<p><strong>Comment<\/strong>: MACD in positive territory and price at 20ma &amp; 55MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3981 size-large\" src=\"https:\/\/blog.sevenstarfx.com\/wp-content\/uploads\/2021\/04\/XAUUSD-16-1024x573.png\" alt=\"\" width=\"1024\" height=\"573\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/XAUUSD-16-1024x573.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/XAUUSD-16-300x168.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/XAUUSD-16-768x430.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/XAUUSD-16-1536x860.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/XAUUSD-16.png 1679w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p style=\"text-align: center;font-size: 11px\"><span style=\"color: #008000\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000\">Red Lines Indicates Support Levels\u00a0<\/span><br \/>\n<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>\n<hr \/>\n<h3><span style=\"color: #cf2e2e\"><span style=\"color: #cf2e2e\">Dow Jones Intraday: <\/span><\/span>Resistance at 33,960.00<\/h3>\n<p><strong>Our pivot point is 33,960.00<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Take sell positions below pivot with targets at 33,820.00 &amp; 33,740.00.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Above 33,960.00 looks for further upside to 34,100.00 &amp; 34,180.00.<\/p>\n<p><strong>Comment<\/strong>: Price below 55MA and RSI at 50 levels.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3982 size-large\" src=\"https:\/\/blog.sevenstarfx.com\/wp-content\/uploads\/2021\/04\/WS30-16-1024x575.png\" alt=\"\" width=\"1024\" height=\"575\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/WS30-16-1024x575.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/WS30-16-300x168.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/WS30-16-768x431.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/WS30-16-1536x863.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/04\/WS30-16.png 1679w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p style=\"text-align: center;font-size: 11px\"><span style=\"color: #008000\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000\">Red Lines Indicates Support Levels\u00a0<\/span><br \/>\n<span style=\"color: #3366ff\">Light Blue is a Pivot Point<\/span> \u00a0\u00a0\u2013 Black represents the price when the report was produced7<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Wrap: Stocks, Bonds, Commodities Equity markets\u00a0across the world fell on Thursday weighed by Wall Street after reports that the Biden administration will propose a sharp increase to capital gains&hellip; <\/p>\n","protected":false},"author":2,"featured_media":3975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[17,102,8,10,21,3,53,33,85,72,50,101],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Market Outlook, 23 April, 2021 | Seven Star FX<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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