{"id":5832,"date":"2021-10-27T08:31:53","date_gmt":"2021-10-27T08:31:53","guid":{"rendered":"https:\/\/www.sevenstarfx.com\/blog\/?p=5832"},"modified":"2021-10-28T06:56:30","modified_gmt":"2021-10-28T06:56:30","slug":"daily-market-outlook-27-october-2021","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-27-october-2021\/","title":{"rendered":"Daily Market Outlook, 27 October, 2021"},"content":{"rendered":"<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Stocks, Bonds, Commodities<\/strong><\/span><\/h3>\n<p>The Dow Jones Industrial Average was advanced 125.39 points (0.35%) at 35,866.54 to hit a record high. The S&amp;P 500 was gained 24.64 points (0.54%) at 4,591.12, and the Nasdaq Composite was rose 94.73 points (0.62%) at 15,321.44.<\/p>\n<p>Asia&#8217;s major stock index was down on Wednesday as traders remained concerned about the risk from <span class=\"aqPopupWrapper mediumTitle1 js-hover-me-wrapper\">elevated inflation<\/span>\u00a0and the indebted real estate sector in China.<\/p>\n<p>MSCI\u2019s index of Asia-Pacific stocks outside Japan is fell 0.91% to 822.63 levels. Australian index rose 0.07% to 7,448.70. Japanese Nikkei Index lower 0.05% to 29,098.24.<\/p>\n<p>European stocks were lower on Wednesday, with the Stoxx Europe 50 Index falling 0.05% to 4,222.45, Germany&#8217;s DAX lost 0.12% to 15,737.75, and France&#8217;s CAC slipped 0.05% to 6,766.10, and U.K.&#8217;s FTSE 100 down 0.05% to 7,275.00.<\/p>\n<p>Benchmark 10-year U.S. Treasury rose as demand for safe assets grows again, today 10-year bond yields rose 0.10% to 1.620.<\/p>\n<p>Oil prices fell on Wednesday as data publish crude oil stockpiles were higher than expected and fuel inventories unexpectedly increased last week in the United States.<\/p>\n<p>Spot Brent crude oil fell 1.16% to $84.67 per barrel. US West Texas Intermediate crude slipped 1.25% to $83.58 a barrel.<\/p>\n<p>The yellow metal traded 0.14% lower to 1791.05 dollars per ounce.<\/p>\n<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Forex\u00a0<\/strong><\/span><\/h3>\n<p>The US dollar edged up on Tuesday in narrow-range trading as markets awaited news from upcoming central bank meetings that might spark volatility.<\/p>\n<p>Today, the U.S. dollar index measures the greenback against a trade-weighted basket of six major currencies, which lower 0.10% to 93.855.<\/p>\n<p>The Euro US Dollar (EUR\/USD) is a widely traded pair that is rose 0.11% today. This left the pairing trading around $1.16060.<\/p>\n<p>The Japanese yen rose against the U.S. dollar on Wednesday as the stock pushes higher. Today US\/JPY is fell 0.11% to 113.990 level.<\/p>\n<p>Another commodity-related currency higher against the U.S dollar, AUD\/USD rose 0.40% to 0.75280, and NZD\/USD flat to 0.71710 level.<\/p>\n<hr \/>\n<h3><strong><span style=\"color: #cf2e2e\">EUR\/USD Intraday:<\/span> Support at 1.15890<\/strong><\/h3>\n<p><strong>Our pivot point is at 1.15890<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Take Long positions Above pivot level with targets at 1.16290 &amp; 1.16490 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Below pivot looks for a further Downside to 1.15540 &amp; 1.15340.<\/p>\n<p><strong>Comment: <\/strong>Pair above its 55MA &amp; 20MA and RSI above 50 levels.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5837 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/EURUSD-17-1024x494.png\" alt=\"\" width=\"1024\" height=\"494\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/EURUSD-17-1024x494.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/EURUSD-17-300x145.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/EURUSD-17-768x370.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/EURUSD-17-1536x741.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/EURUSD-17.png 1676w\" 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\">GBP\/USD Intraday: <\/span>In a consolidation zone<\/h3>\n<p><strong>Our pivot point is at 1.37580<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Buy positions above pivot with targets at 1.38060 &amp; 1.38340 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: The price below pivot would call for further downside to 1.37110 &amp; 1.36820.<\/p>\n<p><strong>Comment<\/strong>: Pair above its 50MA &amp; 20MA and RSI above 50 levels.<\/p>\n<h3><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5838 size-large\" style=\"font-size: 16px\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/GBPUSD-16-1024x491.png\" alt=\"\" width=\"1024\" height=\"491\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/GBPUSD-16-1024x491.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/GBPUSD-16-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/GBPUSD-16-768x368.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/GBPUSD-16-1536x737.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/GBPUSD-16.png 1676w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/h3>\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\">USD\/JPY Intraday:<\/span> Resistance at 114.220<\/h3>\n<p><strong>Our pivot point is at 114.220<\/strong><\/p>\n<p><strong>Preferable Price\u00a0<\/strong><strong>Action:<\/strong> Sell position Below pivot with the target at 113.830 and 113.610 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: The Upside breakout of the pivot would call for 114.580 and 114.770.<\/p>\n<p><strong>Comment<\/strong>: Price below its 55MA &amp; 20MA and MACD in negative territory.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5839 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/USDJPY-16-1024x492.png\" alt=\"\" width=\"1024\" height=\"492\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/USDJPY-16-1024x492.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/USDJPY-16-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/USDJPY-16-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/USDJPY-16-1536x738.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/USDJPY-16.png 1676w\" 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>Trend on the upside<\/h3>\n<p><strong>Our pivot point is at 0.75020<\/strong><\/p>\n<p><strong>Preferable Price Action: <\/strong>\u00a0Buy Positions above pivot with targets at 0.75460 &amp; 0.75700 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Below pivot looks for a further downside with 0.74550 &amp; 0.74280 as targets.<\/p>\n<p><strong>Comment<\/strong>: Pair above its 55MA &amp; 20MA and RSI above 50 levels.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5842 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/AUDUSD-17-1024x493.png\" alt=\"\" width=\"1024\" height=\"493\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/AUDUSD-17-1024x493.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/AUDUSD-17-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/AUDUSD-17-768x370.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/AUDUSD-17-1536x740.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/AUDUSD-17.png 1676w\" 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>Trend may reverse from here<\/strong><\/h3>\n<p><strong>Our pivot point is at 84.10<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Below pivots Sell Oil with 82.30 &amp; 81.20 as targets.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Buy crude Above pivot with targets at 85.80 and 86.60 in extension.<\/p>\n<p><strong>Comment<\/strong>: Crude is below its 55MA &amp; 20MA and MACD in the negative territory.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5836 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/CRUDEOIL-16-1024x492.png\" alt=\"\" width=\"1024\" height=\"492\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/CRUDEOIL-16-1024x492.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/CRUDEOIL-16-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/CRUDEOIL-16-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/CRUDEOIL-16-1536x739.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/CRUDEOIL-16.png 1676w\" 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\">XAU\/USD Intraday: <\/span>Resistance at 1798.60<\/h3>\n<p><strong>Our pivot point is 1798.60<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Further downside to 1782.10 and 1774.00.<\/p>\n<p><strong>Alternative Price Action<\/strong>: If the price gives an upside breakout of a pivot, then the price extends to 1814.00 and 1822.30.<\/p>\n<p><strong>Comment<\/strong>: MACD in negative territory and price below its 20MA &amp; 55MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5841 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/XAUUSD-14-1024x494.png\" alt=\"\" width=\"1024\" height=\"494\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/XAUUSD-14-1024x494.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/XAUUSD-14-300x145.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/XAUUSD-14-768x371.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/XAUUSD-14-1536x741.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/XAUUSD-14.png 1676w\" 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<hr \/>\n<h3><span style=\"color: #cf2e2e\">Dow Jones Intraday: <\/span>Trend on the upside<\/h3>\n<p><strong>Our pivot point is 35,674.00<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Take long positions above pivot with targets at 35,875.00 &amp; 35,973.00.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Below 35,674.00 looks for further downside to 35,480.00 &amp; 35,385.00.<\/p>\n<p><strong>Comment<\/strong>: Price above its 55MA &amp; 20MA and RSI above 50 levels.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-5840 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/WS30-8-1024x492.png\" alt=\"\" width=\"1024\" height=\"492\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/WS30-8-1024x492.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/WS30-8-300x144.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/WS30-8-768x369.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/WS30-8-1536x739.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/10\/WS30-8.png 1676w\" 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 produced<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Wrap: Stocks, Bonds, Commodities The Dow Jones Industrial Average was advanced 125.39 points (0.35%) at 35,866.54 to hit a record high. The S&amp;P 500 was gained 24.64 points (0.54%)&hellip; <\/p>\n","protected":false},"author":2,"featured_media":5844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[322,321,124,89,10,28,3,178,220,26,33,72,31,101],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Market Outlook, 27 October, 2021 | Seven Star FX<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-27-october-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Market Outlook, 27 October, 2021 | Seven Star FX\" \/>\n<meta property=\"og:description\" content=\"Market Wrap: Stocks, Bonds, Commodities The Dow Jones Industrial Average was advanced 125.39 points (0.35%) at 35,866.54 to hit a record high. 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