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.
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DAILY NEWS BRIEF - MARKET OUTLOOK
May 20, 2026
 
   
 
Dow Jones (CME)   S&P 500 (CME)   EUR/USD   GBP/USD   USD/JPY   Gold   Silver   Crude Oil (WTI)  
 
 
  Market Wrap  
 
 
U.S. Market Overview:

The major indices in the U.S. finished lower on Tuesday. The S&P 500 slipped 49 pts (-0.67%) to 7,353. The Nasdaq 100 declined 175 pts (-0.61%) to 28,818. The Dow dropped 322 pts (-0.65%) to 49,363.

On the sector front, Energy (XLE), Health Care (XLV), and Utilities (XLU) outperformed, while Materials (XLB), Financials (XLF), and Industrials (XLI) underperformed the most.

Looking at the latest U.S. economic data, Pending Home Sales rose 3.2% year over year in April, above the -0.5% forecast and a sharp reversal from the -1.1% decline recorded in March.

U.S. Equity News:

Chip stocks were hit by profit-taking and sensitivity to rates, which tends to hurt future-growth valuations the most. Apple (AAPL) was the lone bright spot among large caps, gaining 0.38%, while the rest of the group finished in the red. Alphabet (GOOGL) led declines, dropping 2.34%, followed by Amazon (AMZN) down 2.08%, and META Platforms (META) and Tesla (TSLA) each falling around 1.4%. Microsoft (MSFT) declined 1.45%, while NVIDIA (NVDA) shed 0.77%.

Europe Market Overview:

At the European close, the major indices finished mixed. Germany's DAX gained 92 pts (+0.38%) to 24,400, while the FTSE 100 edged up 6 pts (+0.07%) to 10,330. France's CAC 40 slipped 5 pts (-0.07%) to 7,981. On the data front, the U.K. jobless rate climbed to 5.0% for the January-March period, up from 4.9% previously and above expectations for no change.

Volatility & Commodities Snapshot:

The VIX edged up (+1.35%) to 18.06, while the 10-year yield slipped 0.266 bps to 4.657%.

In commodities, precious metals sold off sharply, gold dropped $80.00 (-1.75%) to $4,486 and silver fell $3.77 (-4.85%) to $73.90.

WTI Crude was little changed, dipping just $0.07 to $107.77.

The Dollar & Majors: Dollar firms broadly as euro and Aussie lead declines among majors

Dollar Index +0.13 pts (+0.13%) to 99.321.

EUR/USD -51 pips (-0.44%) to 1.1604.

GBP/USD -38 pips (-0.28%) to 1.3395.

USD/JPY +26 pips (+0.16%) to 159.09.

USD/CHF +47 pips (+0.60%) to 0.7888.

AUD/USD -62 pips (-0.87%) to 0.7104.

USD/CAD +10 pips (+0.07%) to 1.3749. Canada's April inflation data came in cooler than expected across the board. The headline inflation rate rose 2.8% year-over-year, below the 3% forecast and up from 2.4% in March. Core inflation also eased, climbing 2.1% year-over-year against a 2.6% forecast and 2.5% prior.

Digital Assets:

Bitcoin edged up $6 (+0.01%) to $76,874, while Ethereum slipped $2 (-0.10%) to $2,114.

After Hours Key Earnings:

Keysight Technologies (KEYS), a provider of electronic design and test solutions, reported second quarter adjusted earnings of $2.87 per share, well above the $2.32 consensus estimate and up sharply from $1.70 a year ago. The stock was trading up 4% after hours.
 
 
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Dow Jones (CME)‎ (M6)‎ intraday: consolidation.
 
Pivot:
49850
 
Our preference:
Short positions below 49850 with targets at 49320 & 49140 in extension.
 
Alternative scenario:
Above 49850 look for further upside with 49980 & 50100 as targets.
 
Comment:
The RSI is mixed to bearish.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
S&P 500 (CME)‎ (M6)‎ intraday: the downside prevails.
 
Pivot:
7453
 
Our preference:
Short positions below 7453 with targets at 7340 & 7300 in extension.
 
Alternative scenario:
Above 7453 look for further upside with 7496 & 7537 as targets.
 
Comment:
The RSI is mixed with a bearish bias.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
EUR/USD intraday : rebound towards 1.1652
 
Our pivot point is at 1.1585.
 
Our preference:
Rebound towards 1.1652
 
Alternative scenario:
Below 1.1585, expect 1.1561 and 1.1547.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.1611 and 1.1631).
 
Analyst Views Chart
 
Trade
 
 
 
 
 
GBP/USD intraday : rebound towards 1.3476
 
Our pivot point is at 1.3367.
 
Our preference:
Rebound towards 1.3476
 
Alternative scenario:
Below 1.3367, expect 1.3328 and 1.3305.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3402 and 1.3411).
 
Analyst Views Chart
 
Trade
 
 
 
 
 
USD/JPY intraday : look for a drop towards 158.75 before a bounce
 
Our pivot point is at 158.75.
 
Our preference:
Look for a drop towards 158.75 before a bounce
 
Alternative scenario:
Below 158.75, expect 158.46 and 158.29.
 
Comment:
The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 159.05 and 158.99).
 
Analyst Views Chart
 
Trade
 
 
 
 
 
Gold intraday: choppy.
 
Pivot:
4588
 
Our preference:
Short positions below 4588 with targets at 4465 & 4430 in extension.
 
Alternative scenario:
Above 4588 look for further upside with 4605 & 4640 as targets.
 
Comment:
Technically the RSI is below its neutrality area at 50.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
Silver intraday: under pressure.
 
Pivot:
78.90
 
Our preference:
Short positions below 78.90 with targets at 73.00 & 70.20 in extension.
 
Alternative scenario:
Above 78.90 look for further upside with 80.60 & 83.00 as targets.
 
Comment:
The RSI is mixed to bearish.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
Crude Oil (WTI)‎ (N6)‎ intraday: bullish bias above 101.10.
 
Pivot:
101.10
 
Our preference:
Long positions above 101.10 with targets at 105.20 & 106.30 in extension.
 
Alternative scenario:
Below 101.10 look for further downside with 100.25 & 98.60 as targets.
 
Comment:
The RSI is mixed to bullish.
 
Analyst Views Chart
 
Trade
 
 
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