11-Jan-17: Trend table outlook for FX, Commodities, Indices

By | January 11, 2017

The table is not giving much of a clue today after a choppy but mostly sideways session although we may see some Yen strength and the same in Cable, suggesting shorts in both EurYen and EurGbp may be worth looking at. WTI still looks heavy, but hat aside we may be in for another sideways session, at least till Donald trump speaks at his news conference.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Down

Neutral

Up

Neutral

Neutral

Neutral

4 Hour

Turning Lower

Turning Lower

Turning Higher

Turning Higher

Neutral -Turning Lower?

Neutral -Turning Lower?

Day

Up

Down

Neutral – Turning lower?

Down

Up

Up

Week

Down – Turning Neutral?

Up

Up – Turning Neutral?

Up – Turning Neutral?

Turning lower

Neutral – Turning lower?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Turning Lower

Neutral

Down

Neutral

Down

4 Hour

Neutral

Neutral

Turning Lower

Turning Lower

Neutral

Turning Lower

Day

Neutral

Turning Lower

Up – Possible Topping Formation

 

Up

Turning higher

Down

Week

Up –Possible topping formation?

Up –Becoming Overbought – Possible topping formation?

Up

Down –Turning Neutral

Neutral -Turning lower?

Neutral – Turning higher

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Down

Down

Neutral

Neutral

Turning Lower

Neutral

4 Hour

Turning lower

Turning Lower

Down – Possible Basing Formation?

Turning Lower

Neutral

Turning Higher

Day

Turning lower

Turning Higher?

Neutral -Turning Lower?

Neutral

Neutral

Turning higher?

Week

Up

 

Down

Turning higher

Up

Neutral

Neutral

 


Green = Possible Buy Opportunity.

Red = Possible Sell Opportunity.

The products marked in red/green suggest either a short term (1hour/4 hour charts) or a longer term trend, where the dailies are aligned or seem to be aligning with the weekly indicators.

The shorter term (1+4 hour)) momentum indicators may also be aligned with the longer term charts, but equally likely, they may be pointing in the opposite direction and may suggest a buy or sell level on a pullback, in which case they may show a short term bias that differs from the longer term trend. In order to work out the short term trades, or to look for levels at which to enter the market hoping to take advantage of the longer term trend, this table should be used in conjunction with the daily outlook on www.fxcharts.net using the buy/sell support/resistance levels mentioned in the individual currency pairs, commodities or indices as a guide.

The trend tables are based on the direction of the oscillators for the various time frames, using a combination of MACDs, RSIs and Slow Stochastics.