{"id":8370,"date":"2022-08-08T08:29:05","date_gmt":"2022-08-08T08:29:05","guid":{"rendered":"https:\/\/www.sevenstarfx.com\/blog\/?p=8370"},"modified":"2022-08-08T08:29:05","modified_gmt":"2022-08-08T08:29:05","slug":"daily-market-outlook-08-august-2022","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-08-august-2022\/","title":{"rendered":"Daily Market Outlook, 08 August, 2022"},"content":{"rendered":"<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Stocks, Bonds, Commodities<\/strong><\/span><\/h3>\n<p>The S&amp;P 500 ended lower on Friday, weighed down by Tesla and other technology-related stocks after a solid jobs report torpedoed recent optimism that the Federal Reserve might let up its aggressive campaign to reign in decades-high inflation.<\/p>\n<p>The Dow Jones Industrial Average rose 76.65 points to 32,803.47, the S&amp;P 500 gain 6.75 points to 4,145.19 and the Nasdaq Composite <span data-dobid=\"hdw\">subtract<\/span> 63.03 points to 12,657.55.<\/p>\n<p>MSCI\u2019s index of Asia-Pacific stocks outside Japan is drop 0.59% to 644.56 levels. Australian index higher 0.07% to 7,020.60. Japanese Nikkei Index ascend 0.26% to 28,249.24.<\/p>\n<p>European stocks were positive on Monday, with the Stoxx Europe 50 Index rose 0.50% to 3,743.85, Germany&#8217;s DAX advance 0.37% to 13,625.54, and France&#8217;s CAC ascend 0.58% to 6,509.75, and U.K.&#8217;s FTSE 100 surge 0.29% to 7,461.00.<\/p>\n<p>Benchmark 10-year U.S. Treasury fell as demand for safe assets ascend again, today 10-year bond yields a negative 1.56% to 2.7960.<\/p>\n<p>Oil prices dropped on Monday, hovering near multi-month lows, as recession fears hurt demand outlook and data pointed to a slow recovery in China&#8217;s crude imports last month.<\/p>\n<p>Spot Brent crude oil subtract 0.63% to $94.35 per barrel. US West Texas Intermediate crude is down 0.57% to $88.50 a barrel.<\/p>\n<p>The yellow metal gold is decline 0.09% to 1,789.65 dollars per ounce.<\/p>\n<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Forex\u00a0<\/strong><\/span><\/h3>\n<p>The U.S. dollar posted more gains against the Japanese yen in early European trade Monday, although was subdued overall after last week\u2019s strong U.S. nonfarm payrolls number raised expectations for further aggressive monetary tightening by the Federal Reserve.<\/p>\n<p>Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which is fell 0.15% to 106.330.<\/p>\n<p>The Euro US Dollar (EUR\/USD) is a widely traded pair that is up 0.11% today. This left the pair trading around $1.01920.<\/p>\n<p>The Japanese yen was positive against the U.S. dollar on Monday as the stock up. Today USD\/JPY is ascend 0.07% to 135.060 level.<\/p>\n<p>Another commodity-related currency positive against the U.S dollar, AUD\/USD gain 0.72% to 0.69580, and NZD\/USD up 0.55 to 0.62600 level.<\/p>\n<hr \/>\n<h3><strong><span style=\"color: #cf2e2e\">EUR\/USD Intraday:<\/span><\/strong> Trend on the upside<\/h3>\n<p><strong>Our pivot point is at 1.01950<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Take buy positions above pivot level with targets at 1.02680 &amp; 1.03230 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Below pivot looks for a further downside to 1.01370 &amp; 1.00850.<\/p>\n<p><strong>Comment:<\/strong> RSI above 50 levels and Pairs above its 20MA &amp; 55MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-8365 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD-5-1024x466.jpg\" alt=\"\" width=\"1024\" height=\"466\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD-5-1024x466.jpg 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD-5-300x136.jpg 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD-5-768x349.jpg 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD-5-1536x699.jpg 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD-5.jpg 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 Indicate 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<span style=\"color: #cf2e2e\"><br \/>\n<\/span><\/h3>\n<p><strong>Our pivot point is at 1.20920<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Buy positions above pivot with targets at 1.22070 &amp; 1.23070 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: The price below pivot would call for further downside to 1.19900 &amp; 1.19020.<\/p>\n<p><strong>Comment<\/strong>:\u00a0 RSI above 50 levels and pair above its 20MA &amp; 55MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-8366 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD-5-1024x466.jpg\" alt=\"\" width=\"1024\" height=\"466\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD-5-1024x466.jpg 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD-5-300x136.jpg 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD-5-768x349.jpg 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD-5-1536x699.jpg 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD-5.jpg 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 Indicate 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 level at 135.750<span style=\"color: #cf2e2e\"><br \/>\n<\/span><\/h3>\n<p><strong>Our pivot point is at 135.750<\/strong><\/p>\n<p><strong>Preferable Price\u00a0<\/strong><strong>Action: <\/strong>Sell position below pivot with the target at 133.190 and 131.450 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: The upside breakout of the pivot would call for 137.990 and 139.700.<\/p>\n<p><strong>Comment<\/strong>: MACD is negative territory and Pair below 20MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-8367 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY-5-1024x466.jpg\" alt=\"\" width=\"1024\" height=\"466\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY-5-1024x466.jpg 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY-5-300x136.jpg 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY-5-768x349.jpg 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY-5-1536x699.jpg 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY-5.jpg 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 Indicate 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<span style=\"color: #000000\"><br \/>\n<\/span><\/h3>\n<p><strong>Our pivot point is at 0.69500<\/strong><\/p>\n<p><strong>Preferable Price Action:<\/strong> Buy Positions above pivot with targets at 0.70150 &amp; 0.70650 in extension.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Below pivot looks for a further downside with 0.69010 &amp; 0.68570 as targets.<\/p>\n<p><strong>Comment<\/strong>: RSI above 50 levels and Pair above its 20MA &amp; 55MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-8363 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD-5-1024x466.jpg\" alt=\"\" width=\"1024\" height=\"466\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD-5-1024x466.jpg 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD-5-300x136.jpg 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD-5-768x349.jpg 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD-5-1536x699.jpg 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD-5.jpg 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 Indicate 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\">CRUDEOIL Intraday: <\/span>May trend reverse from 88.18<strong><br \/>\n<\/strong><\/h3>\n<p><strong>Our pivot point is at 88.18<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Above pivots buy oil with 91.84 &amp; 94.20 as targets.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Sell crude below pivot with targets at 84.99 and 82.14 in extension.<\/p>\n<p><strong>Comment<\/strong>: MACD is in the positive territory and Pairs above 55MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-8364 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/CRUDEOIL-5-1024x466.jpg\" alt=\"\" width=\"1024\" height=\"466\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/CRUDEOIL-5-1024x466.jpg 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/CRUDEOIL-5-300x136.jpg 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/CRUDEOIL-5-768x349.jpg 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/CRUDEOIL-5-1536x699.jpg 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/CRUDEOIL-5.jpg 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 Indicate 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<span style=\"color: #cf2e2e\"><br \/>\n<\/span><\/h3>\n<p><strong>Our pivot point is 1776.50<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Further upside to 1793.10 and 1805.40<\/p>\n<p><strong>Alternative Price Action<\/strong>: If the price gives a downside breakout of a pivot, then the price extends to 1762.30 and 1750.70.<\/p>\n<p><strong>Comment<\/strong>: MACD is positive territory and Pairs above 20MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-8369 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD-5-1024x466.jpg\" alt=\"\" width=\"1024\" height=\"466\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD-5-1024x466.jpg 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD-5-300x136.jpg 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD-5-768x349.jpg 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD-5-1536x699.jpg 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD-5.jpg 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 Indicate 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<hr \/>\n<h3><span style=\"color: #cf2e2e\">Dow Jones Intraday: <\/span>Major trend on the upside<span style=\"color: #cf2e2e\"><br \/>\n<\/span><\/h3>\n<p><strong>Our pivot point is 32,858.00<br \/>\n<\/strong><\/p>\n<p><strong>Preferable Price Action<\/strong>: Take buy positions above pivot with targets at 33,094.00 &amp; 33,263.00.<\/p>\n<p><strong>Alternative Price Action<\/strong>: Below 32,858.00 looks for further downside to 32,655.00 &amp; 32,469.00.<\/p>\n<p><strong>Comment<\/strong>: RSI above 50 levels and Pairs above its 20MA &amp; 55MA.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-8368 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/WS30-5-1024x466.jpg\" alt=\"\" width=\"1024\" height=\"466\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/WS30-5-1024x466.jpg 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/WS30-5-300x136.jpg 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/WS30-5-768x349.jpg 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/WS30-5-1536x699.jpg 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2022\/08\/WS30-5.jpg 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 Indicate 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 S&amp;P 500 ended lower on Friday, weighed down by Tesla and other technology-related stocks after a solid jobs report torpedoed recent optimism that the&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, 08 August, 2022 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