{"id":6500,"date":"2021-12-31T08:27:40","date_gmt":"2021-12-31T08:27:40","guid":{"rendered":"https:\/\/www.sevenstarfx.com\/blog\/?p=6500"},"modified":"2021-12-31T08:27:40","modified_gmt":"2021-12-31T08:27:40","slug":"daily-market-outlook-31-december-2021","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-31-december-2021\/","title":{"rendered":"Daily Market Outlook, 31 December, 2021"},"content":{"rendered":"<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Stocks, Bonds, Commodities<\/strong><\/span><\/h3>\n<p>Wall Street closed lower on Thursday, retreating late in thin holiday volume from record highs set early in the session on strong U.S. data including a drop in weekly claims for U.S. unemployment benefits.<\/p>\n<p>The Dow Jones Industrial Average fell 90.55 points (0.25%) to 36,398.08, the S&amp;P 500 lost 14.33 points (0.30%) to 4,778.73 and the Nasdaq Composite dropped 24.65 points (0.16%) to 15,741.56.<\/p>\n<p>MSCI\u2019s index of Asia-Pacific stocks outside Japan gain 0.78%, to 788.71 levels. Australian index fell 0.92% to 7,444.60. Japanese Nikkei Index lost 0.40% to 28,791.71.<\/p>\n<p>European stocks were lower on Friday, with the Stoxx Europe 50 Index up 0.08% to 4,288.38, Germany&#8217;s DAX declined 0.12% to 15,833.50, and France&#8217;s CAC flat to 7,160.96, and U.K.&#8217;s FTSE 100 down 0.19% to 7,406.75.<\/p>\n<p>Benchmark 10-year U.S. Treasury rose as demand for safe assets fell again, today 10-year bond yields advance 0.24% to 1.519.<\/p>\n<p>Oil prices rose slightly on Friday on expectations that fuel demand held up despite soaring Omicron coronavirus infections and that OPEC and its allies would continue to increase imports only incrementally.<\/p>\n<p>Spot Brent crude oil lost 0.06% to $79.47 per barrel. US West Texas Intermediate crude fell 0.09% to $76.90 a barrel.<\/p>\n<p>The yellow metal gold is gain 0.80% to 1,820.90 dollars per ounce.<\/p>\n<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Forex\u00a0<\/strong><\/span><\/h3>\n<p>The yen dropped to a new one-month low and sterling hit a six-week high in holiday-thin trading on Thursday after investors overnight had turned back towards riskier currencies and equities.<\/p>\n<p>Today, the U.S. dollar index measures the greenback against a trade-weighted basket of six major currencies, which advanced 0.07% to 96.028.<\/p>\n<p>The Euro US Dollar (EUR\/USD) is a widely traded pair that is fell 0.08% today. This left the pair trading around $1.13140.<\/p>\n<p>The Japanese yen fell against the U.S. dollar on Friday as the stock pushes lower. Today US\/JPY is rose 0.06% to 115.110 level.<\/p>\n<p>Another commodity-related currency higher against the U.S dollar, AUD\/USD up 0.20% to 0.72630, and NZD\/USD rose 0.07% to 0.68330 level.<\/p>\n<hr \/>\n<h3><strong><span style=\"color: #cf2e2e\">EUR\/USD Intraday:<\/span> Resistance at 1.1330<br \/>\n<\/strong><\/h3>\n<p><strong>Our pivot point is at 1.13330<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Take Short positions below pivot level with targets at 1.12790 &amp; 1.12470 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Above pivot looks for a further Upside to 1.13830 &amp; 1.14120.<\/p>\n<p><strong>Comment: <\/strong>Pair below its 55MA &amp; 20MA and RSI below 50 levels.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-6504 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/EURUSD-21-1024x519.png\" alt=\"\" width=\"1024\" height=\"519\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/EURUSD-21-1024x519.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/EURUSD-21-300x152.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/EURUSD-21-768x389.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/EURUSD-21-1536x779.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/EURUSD-21.png 1919w\" 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>Trend on the upside<\/h3>\n<p><strong>Our pivot point is at 1.34740<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Buy positions Above pivot with targets at 1.35330 &amp; 1.35620 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: The price Below pivot would call for further Downside to 1.34170 &amp; 1.33770.<\/p>\n<p><strong>Comment<\/strong>: Pair Above 55MA and RSI at 50 levels.<\/p>\n<h3><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-6505 size-large\" style=\"font-size: 16px\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/GBPUSD-21-1024x519.png\" alt=\"\" width=\"1024\" height=\"519\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/GBPUSD-21-1024x519.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/GBPUSD-21-300x152.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/GBPUSD-21-768x389.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/GBPUSD-21-1536x779.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/GBPUSD-21.png 1919w\" 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><span style=\"color: #cf2e2e\"><span style=\"color: #000000\">Major support at 115.010<br \/>\n<\/span><\/span><\/h3>\n<p><strong>Our pivot point is at 115.010<\/strong><\/p>\n<p><strong>Preferable Price\u00a0<\/strong><strong>Action: <\/strong>Buy position Above pivot with the target at 115.320 and 115.500 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: The Downside breakout of the pivot would call for 114.690 and 114.490.<\/p>\n<p><strong>Comment<\/strong>: Price above 20MA and MACD in positive territory.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-6506 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/USDJPY-21-1024x519.png\" alt=\"\" width=\"1024\" height=\"519\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/USDJPY-21-1024x519.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/USDJPY-21-300x152.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/USDJPY-21-768x389.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/USDJPY-21-1536x779.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/USDJPY-21.png 1919w\" 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 a Consolidation Zone<\/h3>\n<p><strong>Our pivot point is at 0.72470<\/strong><\/p>\n<p><strong>Preferable Price Action: <\/strong>\u00a0Buy Positions Above pivot with targets at 0.72760 &amp; 0.72930 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Below pivot looks for a further Downside with 0.72210 &amp; 0.72020 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-6502 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/AUDUSD-19-1024x519.png\" alt=\"\" width=\"1024\" height=\"519\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/AUDUSD-19-1024x519.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/AUDUSD-19-300x152.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/AUDUSD-19-768x389.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/AUDUSD-19-1536x779.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/AUDUSD-19.png 1919w\" 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><\/strong>In a Consolidation Zone<\/h3>\n<h3><strong>Our pivot point is at 76.04<\/strong><\/h3>\n<p><strong>Preferable Price Action<\/strong>: Above pivots Buy Oil with 77.87 &amp; 78.71 as targets.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Sell crude Below pivot with targets at 74.30 and 73.21 in extension.<\/p>\n<p><strong>Comment<\/strong>: Price above its 55MA &amp; 20MA and MACD is in the positive territory.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-6503 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/CRUDEOIL-21-1024x519.png\" alt=\"\" width=\"1024\" height=\"519\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/CRUDEOIL-21-1024x519.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/CRUDEOIL-21-300x152.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/CRUDEOIL-21-768x389.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/CRUDEOIL-21-1536x779.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/CRUDEOIL-21.png 1919w\" 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>Trend On The Upside<\/h3>\n<p><strong>Our pivot point is 1813.30<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Further Upside to 1828.50 and 1837.00.<\/p>\n<p><strong>Alternative Price Action<\/strong>: If the price gives a Downside breakout of a pivot, then the price extends to 1797.20 and 1787.00.<\/p>\n<p><strong>Comment<\/strong>: MACD in positive territory and price above its 55MA &amp; 20MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-6508 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/XAUUSD-19-1024x519.png\" alt=\"\" width=\"1024\" height=\"519\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/XAUUSD-19-1024x519.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/XAUUSD-19-300x152.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/XAUUSD-19-768x389.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/XAUUSD-19-1536x779.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/XAUUSD-19.png 1919w\" 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> Break Support Level<\/h3>\n<p><strong>Our pivot point is 36,513.80<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Take Short positions Below pivot with targets at 36,160.60 &amp; 35,959.70.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Above 36,513.80 looks for further Upside to 36,792.80 &amp; 36,953.20.<\/p>\n<p><strong>Comment<\/strong>: RSI below 50 levels and Price Below 55MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-6507 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/WS30-19-1024x519.png\" alt=\"\" width=\"1024\" height=\"519\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/WS30-19-1024x519.png 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/WS30-19-300x152.png 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/WS30-19-768x389.png 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/WS30-19-1536x779.png 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2021\/12\/WS30-19.png 1919w\" 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 Wall Street closed lower on Thursday, retreating late in thin holiday volume from record highs set early in the session on strong U.S. data including&hellip; <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","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, 31 December, 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 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