DAILY NEWS BRIEF - MARKET OUTLOOK

October 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 EUR/USD GBP/USD USD/JPY Silver Dow Jones (CME) S&P 500 (CME)

Market Wrap

Market Wrap: pre-opening session

U.S. market futures are slightly up. On Tuesday, major U.S. indices finished mixed. The S&P 500 advanced 21 points (+0.28%) to 7,712, the Nasdaq 100 slipped 39 points (-0.13%) to 29,490, and the Dow Jones jumped 529 points (+1.02%) to 52,495.

The U.S. 10-year Treasury yield fell 3.1 basis points to 5.111%.

European indices are mostly up. On the statistics front, in the U.K., inflation came in at 3.5% in September, versus 3.4% anticipated, after 3.1% in August. Meanwhile, producer prices rose 4.6% year-on-year, versus +4.3% expected, after +3.8% in August (revised from 3.7%).

Asian indices closed mixed. On the stat front, Japan's exports rose 16.7% year-on-year in September (vs +20.1% expected).

WTI crude oil prices are up, testing the key level resistance around 100 dollars.

Gold is still consolidating around the 4,100 dollars level.

Bitcoin consolidates around the 83,000 dollars level.

Premarket news

SpaceX (SPCX), a space company, jumps as Elon Musk said a merger of Tesla and SpaceX "would be a good idea." In addition, the group reported better-than-expected third-quarter results.

Netflix (NFLX), a global streaming and entertainment company, drops after issuing weaker-than-expected fourth-quarter guidance and lowering its 2026 advertising revenue forecast.

Super Micro Computer (SMCI), an IT solution provider, jumps as its first-quarter revenue and margin guidance topped expectations.

Intuitive Surgical (ISRG), a developer of robotic systems for the medical industry, falls after narrowing its full-year guidance for growth in the number of procedures performed using its da Vinci robotic surgical systems.

United Airlines (UAL), the transportation company, loses ground after issuing a fourth-quarter profit forecast below estimates.

AT&T (T), one of the largest wireless communication carriers in the U.S., reported third-quarter sales up 5.3% to 32.3 billion dollars.

Capital One Financial (COF), a diversified banking services firm, reported third-quarter adjusted EPS up to 6.69 dollars, above expectations, from 5.95 dollars a year earlier.

Philip Morris International (PM), a manufacturer of tobacco products, posted third-quarter sales up 5.5% to 11.44 billion dollars.

Chipotle Mexican Grill (CMG), the fast food restaurant chain, was downgraded to "hold" from "buy" at TD Cowen.

Expected Today

Meta Platforms Inc (META)

Tesla Inc (TSLA)

Lam Research Corp (LRCX)

Philip Morris International Inc (PM)

Texas Instruments Inc (TXN)

Thermo Fisher Scientific Inc (TMO)

International Business Machines Corp (IBM)

Abbott Laboratories (ABT)

NextEra Energy Inc (NEE)

AT&T Inc (T)

Canada

Earnings release:

Waste Connections Inc (WCN)

On Tuesday, the S&P/TSX Composite Index rose 0.50% to 36,107 and the S&P/TSX 60 Index gained 0.63% to 2,140.

Agnico Eagle Mines (AEM): JP Morgan raised its price target on the mining company to 268 dollars from 251 dollars.

Barrick Mining (ABX): JP Morgan raised its price target on the mining company to 78 dollars from 72 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)‎ (Z6)‎ intraday: under pressure.

Pivot:

101.30

Our preference:

Short positions below 101.30 with targets at 95.20 & 94.00 in extension.

Alternative scenario:

Above 101.30 look for further upside with 102.50 & 104.00 as targets.

Comment:

The RSI is mixed to bearish.

Trade

Gold intraday : The upside prevails as long as 4,105 is support

Our pivot point is at 4,105.

Our preference:

The upside prevails as long as 4,105 is support, with 4,174 and 4,190 as targets

Alternative scenario:

Below 4,105, expect 4,078 and 4,062.

Comment:

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 4,126 and 4,124).

Trade

EUR/USD intraday : Target 1.1192

Our pivot point is at 1.1242.

Our preference:

The downside prevails as long as 1.1242 is resistance, with 1.1192 and 1.1180 as targets

Alternative scenario:

Above 1.1242, look for 1.1263 and 1.1275.

Comment:

The RSI is below its neutrality area at 50. The price stands below its 20 and 50 period moving average (respectively at 1.1226 and 1.1229).

Trade

GBP/USD intraday : 1.3421 in sight

Our pivot point is at 1.3353.

Our preference:

The upside prevails as long as 1.3353 is support, with 1.3421 and 1.3437 as targets

Alternative scenario:

Below 1.3353, expect 1.3325 and 1.3308.

Comment:

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 1.3390 and 1.3382).

Trade

USD/JPY intraday : 157.75 expected

Our pivot point is at 158.51.

Our preference:

The downside prevails as long as 158.51 is resistance, with 157.75 and 157.54 as targets

Alternative scenario:

Above 158.51, look for 158.85 and 159.05.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 158.06 and 158.15).

Trade

Silver intraday : First target, continuation or consolidation?

Our pivot point is at 56.31.

Our preference:

The upside prevails as long as 56.31 is support, with 58.29 and 58.82 as targets

Alternative scenario:

Below 56.31, expect 55.42 and 54.89.

Comment:

The chart structure suggests the instrument is coiling ahead of a potentially significant move.

Trade

Dow Jones (CME)‎ (Z6)‎ intraday: the upside prevails.

Pivot:

52500

Our preference:

Long positions above 52500 with targets at 53500 & 54000 in extension.

Alternative scenario:

Below 52500 look for further downside with 52050 & 51600 as targets.

Comment:

The RSI is mixed with a bullish bias.

Trade

S&P 500 (CME)‎ (Z6)‎ intraday: further advance.

Pivot:

7705

Our preference:

Long positions above 7705 with targets at 7810 & 7870 in extension.

Alternative scenario:

Below 7705 look for further downside with 7675 & 7630 as targets.

Comment:

The RSI is mixed.

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.

VPFX is the trading name for Ventura Prime FX Limited with registration number LL16224 registered in Labuan F.T., Malaysia.

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