DAILY NEWS BRIEF - MARKET OUTLOOK

July 21, 2026

Here are today's directional views from the global research desks of Ventura Prime FX! These are starting points for your own research to identify opportunities that make sense for you.

Crude Oil (WTI) Gold USD/JPY EUR/USD Dow Jones (CME) S&P 500 (CME) GBP/USD Silver

Market Wrap

Market Wrap: Stocks, Bonds, Commodities

On Monday, the S&P 500 dipped 14 points (-0.19%) to 7,443, and the Dow Jones declined 307 points (-0.59%) to 51,839, while the Nasdaq 100 edged up 12 points (+0.04%) to 28,604.

Semiconductor and data-storage stocks showed signs of stabilization, with Marvell Technology (MRVL) rising 3.32%, Intel (INTC) up 2.13%, Micron (MU) up 1.94%, and Sandisk (SNDK) up 2.67%.

Alphabet (GOOGL) rose 1.51% after the tech giant was reported to be developing a new server chip called "Frozen v2" designed to integrate its Gemini AI model blueprint.

Lumentum (LITE) rose 4.47% after Barclays upgraded the stock to "overweight" from "equalweight," with a $1,000 price target.

Teradyne (TER) climbed 3.54% after UBS raised its price target on the stock to 500 dollars from 440 dollars, maintaining a "buy" rating.

Warner Bros Discovery (WBD) declined 3.76% and Paramount Skydance (PSKY) fell 2.06%, after a U.S. judge temporarily paused Paramount's acquisition of Warner Bros, citing potential antitrust violations.

Alibaba (BABA) climbed 4.67% after releasing a preview of its new AI model called Qwen 3.8 Max.

The U.S. 10-year Treasury yield rebounded 4.5 basis points to 4.594%.

In Europe, the DAX 40 added 0.06% and the CAC 40 edged up 0.02%, while the FTSE 100 fell 0.71%.

U.S. WTI crude futures added 70 cents to $82.48 a barrel.

Gold held above the $4,000-an-ounce level.

Market Wrap: Forex

The U.S. dollar was firm against major currencies, with EUR/USD slipping 25 pips to 1.1414, USD/JPY gaining 10 pips to 162.49, and USD/CHF up 30 pips to 0.8102.

Germany’s producer price growth slowed to 1.8% year-on-year in June, as expected.

GBP/USD slipped 26 pips to 1.3427. Andy Burnham became Britain's prime minister — the seventh in a decade — on Monday.

USD/CAD climbed 47 pips to 1.4067. Canada's inflation rate slowed to 2.8% year-on-year in June (vs 3.0% expected, 3.2% in May).

Bitcoin surpassed 65,000 dollars.

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

Crude Oil (WTI)‎ (U6)‎ intraday: 84.35 expected.

Pivot:

81.10

Our preference:

Long positions above 81.10 with targets at 83.30 & 84.35 in extension.

Alternative scenario:

Below 81.10 look for further downside with 80.30 & 79.60 as targets.

Comment:

The RSI is mixed to bullish.

Trade

Gold intraday: up turn.

Pivot:

4012

Our preference:

Long positions above 4012 with targets at 4054 & 4080 in extension.

Alternative scenario:

Below 4012 look for further downside with 3998 & 3982 as targets.

Comment:

The RSI calls for a rebound.

Trade

USD/JPY intraday: bullish bias above 162.30.

Pivot:

162.30

Our preference:

Long positions above 162.30 with targets at 162.70 & 162.85 in extension.

Alternative scenario:

Below 162.30 look for further downside with 162.15 & 162.00 as targets.

Comment:

A support base at 162.30 has formed and has allowed for a temporary stabilisation.

Trade

EUR/USD intraday: watch 1.1400.

Pivot:

1.1435

Our preference:

Short positions below 1.1435 with targets at 1.1400 & 1.1385 in extension.

Alternative scenario:

Above 1.1435 look for further upside with 1.1450 & 1.1465 as targets.

Comment:

A break below 1.1400 would trigger a drop towards 1.1385.

Trade

Dow Jones (CME)‎ (U6)‎ intraday: target 51800.

Pivot:

52280

Our preference:

Short positions below 52280 with targets at 51800 & 51700 in extension.

Alternative scenario:

Above 52280 look for further upside with 52380 & 52580 as targets.

Comment:

Technically the RSI is below its neutrality area at 50.

Trade

S&P 500 (CME)‎ (U6)‎ intraday: consolidation in place.

Pivot:

7522

Our preference:

Short positions below 7522 with targets at 7455 & 7430 in extension.

Alternative scenario:

Above 7522 look for further upside with 7536 & 7550 as targets.

Comment:

As long as 7522 is resistance, look for choppy price action with a bearish bias.

Trade

GBP/USD intraday: key resistance at 1.3455.

Pivot:

1.3455

Our preference:

Short positions below 1.3455 with targets at 1.3405 & 1.3385 in extension.

Alternative scenario:

Above 1.3455 look for further upside with 1.3480 & 1.3500 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 1.3455.

Trade

Silver intraday: turning up.

Pivot:

56.60

Our preference:

Long positions above 56.60 with targets at 58.40 & 59.00 in extension.

Alternative scenario:

Below 56.60 look for further downside with 56.10 & 55.50 as targets.

Comment:

The RSI calls for a rebound.

Trade

TRADING FOREIGN EXCHANGE ON MARGIN CARRIES A HIGH LEVEL OF RISK AND MAY NOT BE SUITABLE FOR ALL INVESTORS.

THE POSSIBILITY EXISTS THAT YOU COULD SUSTAIN A LOSS OF SOME OR ALL OF YOUR INITIAL INVESTMENT AND THEREFORE YOU SHOULD NOT INVEST MONEY THAT YOU CANNOT AFFORD TO LOSE.

THE HIGH DEGREE OF LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU. BEFORE DECIDING TO TRADE FOREIGN EXCHANGE OR CFD’S YOU SHOULD CAREFULLY CONSIDER YOUR INVESTMENT OBJECTIVES, LEVEL OF EXPERIENCE, AND RISK APPETITE.

YOU SHOULD BE AWARE OF ALL THE RISKS ASSOCIATED WITH FOREIGN EXCHANGE AND OTHER CFD TRADING, AND SEEK ADVICE FROM AN INDEPENDENT FINANCIAL ADVISOR IF YOU HAVE ANY DOUBTS. VPFX RECOMMENDS READING THE RISK DISCLOSURE SECTION OF THE PROSPECTUS FOR ANY FINANCIAL PRODUCT MENTIONED.

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