Wednesday, August 19, 2026
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Market Comment
Market Wrap: Stocks, Bonds, Commodities

On Friday, the S&P 500 dipped from its record levels, easing 13 points (-0.17%) to 7,785. The Nasdaq 100 declined 38 points (-0.13%) to 30,046, and the Dow Jones was down 107 points (-0.20%) to 53,732.

SanDisk (SNDK) advanced a further 7.39% on Friday, tallying a weekly gain of over 35%. JPMorgan rated the stock as "overweight" with a price target of 2,250 dollars.

Semiconductor stocks closed mixed. Micron Technology (MU) charged 2.30% higher, and Advanced Micro Devices (AMD) jumped 6.50%, while Broadcom (AVGO) slid 5.94%, and Intel (INTC) was down 1.97%.

Applied Materials (AMAT) fell 5.12%. Though the maker of chip-manufacturing equipment gave an upbeat quarterly revenue forecast, investors seemed not impressed.

Alphabet (GOOGL) closed 0.13% lower. According to a regulatory filing, Berkshire Hathaway sharply increased its stake in Alphabet to 106 million shares worth about 38 billion dollars by the end of June.

Reddit (RDDT) surged 12.63% after it was announced that the social media platform will join the S&P 500 on August 18.

Fox Corp (FOXA) gained 5.49% after being upgraded to "overweight" by JPMorgan.

The U.S. 10-year yield rebounded 4.3 basis points to 4.692%.

In Europe, the DAX 40 gained 0.53%, while the CAC 40 declined 0.16%, and the FTSE 100 was down 0.21%.

U.S. WTI crude futures added 1.15 dollars (+1.42%) to 82.40 dollars a barrel, and spot gold was up 24 dollars to 4,376 dollars an ounce.


Market Wrap: Forex

The U.S. dollar softened against major currencies, with EUR/USD rising 40 pips to 1.1567, and USD/JPY dipping 14 pips to 159.34.

U.S. data showed that retail sales unexpectedly fell 0.6% month-on-month in July (vs +0.1% expected, +0.2% in June). The University of Michigan consumer sentiment index dropped to 51.0 in August, lower than expected.

GBP/USD advanced 50 pips to 1.3535, and AUD/USD rose 28 pips to 0.7082.

USD/CAD dropped 55 pips to 1.3875, a fresh 2-month low.

Over the weekend, Bitcoin remained subdued at levels below 63,000 dollars.


Morning Trading

In Asian trading hours, USD/JPY fell to 159.03. Japan's second-quarter annualized gross domestic product grew 1.1%, below 2.0% expected.

Meanwhile, EUR/USD climbed to 1.1579 and GBP/USD rose to 1.3550.

Gold advanced to 4,393 dollars.

Bitcoin edged up to 63,370 dollars.


Expected Today

In the U.S., the Empire State manufacturing index is expected to slip to 12.0 in August.

Canada's inflation rate is estimated to climb to 2.9% year-on-year in July.
Forex Last %1D %YTD
EUR/USD 1.1594 0.17 -1.46
USD/JPY 159.13 -0.31 1.90
GBP/USD 1.3549 0.15 0.42
Commodities Last %1D %YTD
Gold 4,338.9500 0.13 0.45
Silver 62.8076 -0.78 -11.17
Crude Oil 85.5300 0.69 47.34
EUR/USD intraday : Throwback or further upside? Next
Our pivot point is at 1.1572.

Our preference: The upside prevails as long as 1.1572 is support, with 1.1622 and 1.1634 as targets

Alternative scenario: below 1.1572, expect 1.1553 and 1.1541.

Comment: The approach toward our first target is a key moment to watch, it may trigger a throwback, yet a firm close above this threshold could provide the momentum needed to push the asset price higher.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
EUR/JPY intraday : Key support level approaches Previous  | Next
Our pivot point is at 185.00.

Our preference: The downside prevails as long as 185.00 is resistance, with 184.34 and 184.16 as targets

Alternative scenario: above 185.00, look for 185.31 and 185.49.

Comment: Prices are now edging toward our first target. Should this level be reached, a pullback is likely to surface; yet a convincing break below it could open the door to further losses.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
GBP/USD intraday : Look for 1.3604 Previous  | Next
Our pivot point is at 1.3529.

Our preference: The upside prevails as long as 1.3529 is support, with 1.3604 and 1.3623 as targets

Alternative scenario: below 1.3529, expect 1.3497 and 1.3478.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 1.3547 and 1.3539).
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
GBP/JPY intraday : Watching for a Trigger Below Support Previous  | Next
Our pivot point is at 216.40.

Our preference: The downside prevails as long as 216.40 is resistance, with 215.33 and 215.03 as targets

Alternative scenario: above 216.40, look for 216.90 and 217.21.

Comment: Prices are now within reach of our first target, a level that could trigger a pullback. On the flip side, a decisive break below it may extend the current decline.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
USD/JPY intraday : The downside prevails as long as 159.37 is resistance Previous  | Next
Our pivot point is at 159.37.

Our preference: The downside prevails as long as 159.37 is resistance, with 158.61 and 158.42 as targets

Alternative scenario: above 159.37, look for 159.70 and 159.89.

Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. The price stands below its 20 and 50 period moving average (respectively at 159.28 and 159.48).
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
USD/CAD intraday : Critical support closing in Previous  | Next
Our pivot point is at 1.3917.

Our preference: Under pressure below 1.3917, with 1.3848 and 1.3835 as targets

Alternative scenario: above 1.3917, look for 1.3939 and 1.3951.

Comment: The approach toward our first target represents a key level to monitor, it may trigger pressure for a pullback, though a firm close below this threshold could lead prices lower.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Crude Oil (WTI) (V6) intraday: the upside prevails. Previous  | Next
Pivot: 83.30

Our preference: long positions above 83.30 with targets at 85.85 & 87.00 in extension.

Alternative scenario: below 83.30 look for further downside with 82.25 & 81.30 as targets.

Comment: the next resistances are at 85.85 and then at 87.00.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Brent (ICE) (V6) intraday: further advance. Previous  | Next
Pivot: 90.00

Our preference: long positions above 90.00 with targets at 92.90 & 94.00 in extension.

Alternative scenario: below 90.00 look for further downside with 89.00 & 88.20 as targets.

Comment: the break above 90.00 is a positive signal that has opened a path to 92.90.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Dow Jones (CME) (U6) intraday: the downside prevails. Previous  | Next
Pivot: 53590

Our preference: short positions below 53590 with targets at 53311 & 53080 in extension.

Alternative scenario: above 53590 look for further upside with 53720 & 53880 as targets.

Comment: as long as the resistance at 53590 is not surpassed, the risk of the break below 53311 remains high.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Gold intraday : Pivot threshold in sight Previous 
Our pivot point is at 4,386.

Our preference: The downside prevails as long as 4,386 is resistance, with 4,297 and 4,276 as targets

Alternative scenario: above 4,386, look for 4,421 and 4,442.

Comment: The asset's price is approaching our pivot level at a critical juncture, leaving little room for the asset to reverse its current trajectory.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

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