(By ATFX Analyst Team)
Summary
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Global Market Review 21/04/2026
U.S. stocks edged lower on Monday as renewed U.S.-Iran tensions weighed on sentiment. The Dow Jones Industrial Average fell 0.01%, the S&P 500 slipped 0.24%, and the Nasdaq dropped 0.26%, with the latter two pulling back from record highs and ending their recent winning streak. U.S. Treasury prices were little changed, while the U.S. Dollar Index fell 0.39% to 98.07.
Gold recovered from a one-week low after Iran threatened retaliation over the U.S. seizure of an Iranian cargo ship. Spot gold settled at $4,819.64 per ounce, down 0.2%. Oil prices also spiked intraday as violence resurfaced around the Strait of Hormuz, while the outlook for U.S.-Iran peace talks remained uncertain.
Key Events Today:
- 14:00 GB Unemployment Rate FEB **
- 17:00 EU ZEW Economic Sentiment Index APR **
- 20:30 US Retail Sales MAR ***
- 22:00 US Pending Home Sales MAR **
- 22:00 U.S. Senate Banking Committee hearing on Kevin Warsh’s nomination for Federal Reserve Chair ***
Tomorrow:
- 04:30 US API Weekly Crude Oil Stock ***
- 14:00 GB CPI & PPI YoY MAR***
- 22:00 EU Consumer Confidence Flash APR **
- 22:30 EIA Weekly Crude Oil Stock **
- Temporary U.S.–Iran ceasefire expires ***
- NYMEX May crude oil futures contract expires ***
Markets Analysis 21/04/2026
- Resistance: 1.1835/1.1884
- Support: 1.1724/1.1674
EURUSD held near 1.1781 as the dollar softened again after an early risk-driven rebound. Despite fresh U.S.-Iran friction, traders still leaned towards eventual diplomacy, helping the euro remain relatively supported.
Analyst View: EURUSD still appears supported, but upside momentum is slowing below 1.1835–1.1884. As long as price holds above 1.1674, the broader recovery remains intact; a clean break higher would be needed to restore stronger bullish momentum.
Bias: Consolidating around the 1.1800 level
- Resistance: 1.3603/1.3639
- Support: 1.3479/1.3432
GBPUSD edged up to 1.3535, supported by renewed dollar softness and lingering optimism about diplomacy. Still, gains were modest as markets remained cautious ahead of the ceasefire deadline and broader geopolitical headlines.
Analyst View: GBPUSD is holding its recovery structure, but the pair is starting to stall below 1.3603–1.3639. That keeps the tone mildly constructive, though near-term gains may remain choppy unless buyers can clear the upper resistance band cleanly.
Bias: Temporary consolidation within the 1.3500–1.3600 range
- Resistance: 159.39/159.67
- Support: 158.53/158.17
USDJPY rose slightly towards 158.81 as yen demand remained restrained despite renewed regional tension. The pair stayed relatively elevated, with markets balancing softer dollar sentiment against still-fragile geopolitical conditions.
Analyst View: USDJPY is drifting rather than trending. The pair is holding the middle of the range, but unless it retakes 159.39–159.67, the upside remains unconvincing and the market stays prone to slipping back towards 158.17–158.53.
Bias: Mildly bearish
- Resistance: 89.36/91.50
- Support: 82.05/80.33
WTI slipped back towards $86.45 after the prior surge, though markets remained highly sensitive to risks related to the Strait of Hormuz. The $85.50 level emerged as a key near-term level as traders weighed disruption fears against expectations of softer demand.
Analyst View: WTI is trying to stabilise, but the rebound remains fragile, with support around $89.36–$91.50. Unless price can reclaim that resistance band, the market may continue to slip between bounce attempts and renewed pressure towards $80.33–$82.05.
Bias: Watching from a low-range consolidation
- Resistance: 4887/4983
- Support: 4736/4642
- Resistance: 82.51/85.01
- Support: 76.82/74.27
Gold traded near $4,826, supported by a softer dollar, even as the ceasefire deadline approached without clear progress. Still, upside momentum remained cautious as higher yields and geopolitical uncertainty continued to complicate the rate outlook.
Analyst View: Gold remains in a constructive structure above $4,736, but the market appears less eager to move higher each time it approaches $4,887. That keeps the tone supported, though the next move may remain range-bound unless buyers can break through resistance cleanly.
Bias: Range-trading mode
- Resistance: 50513/51146
- Support: 49072/48428
The Dow slipped marginally as investors grew more cautious after the Strait of Hormuz disruption returned to the fore. Energy shares outperformed, but broader sentiment softened ahead of key earnings and amid renewed geopolitical uncertainty.
Analyst View: The Dow is trying to stabilise above 48,428, but momentum has clearly cooled before reaching 50,513–51,146. That keeps the structure constructive, though the index may need consolidation before another serious attempt at the heights.
Bias: High-level range consolidation
- Resistance: 26887/27182
- Support: 26308/25933
The NAS100 eased as geopolitical nerves and rising uncertainty interrupted the recent momentum. The broader AI-driven theme still offers support, but traders have become more selective ahead of earnings and shifting macro headlines.
Analyst View: The NAS100 still has upward momentum, but near 26,887–27,182, the market may start to hesitate. Bulls have not lost control, yet this part of the move feels more like testing appetite than an easy breakout.
Bias: High-level range consolidation
- Resistance: 78617/80272
- Support: 74380/73100
Bitcoin climbed back above $75,000 even as U.S.-Iran tensions flared again, suggesting crypto risk appetite remained more resilient than that of equities. Support came from continued institutional demand, including Strategy’s latest large BTC purchase, while the $75,000 level remains a key short-term pivot.
Analyst View: Bitcoin remains above its key support band, but the market is no longer rising in a straight line. As long as $73,100–$74,380 contains pullbacks, the structure remains constructive, though the upside may feel more selective near $78,617.
Bias: Mildly bullish
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