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

By | January 12, 2017

The commodity bloc seems to have some short-term upside momentum that could possibly carry the Aud and Kiwi to higher levels although selling into strength remains favoured for the longer term downtrend. WTI nicely held the neckline of the H/S formation today and has rallied 3%. Further short term gains seem possible. Yen strength looks set to continue, with Chf strength also appearing to be building.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Turning Lower?

Turning Higher

Turning Lower

Up

Up

4 Hour

Neutral

Turning Lower?

Turning Higher

Neutral

Turning Higher

Turning Higher

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

Up

Up

Neutral

Up

Neutral

Up

4 Hour

Neutral

Neutral

Neutral

Neutral

Neutral

Turning Higher

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

Turning Higher?

Neutral

Turning Higher?

Turning Lower?

Turning Higher

Turning Lower

4 Hour

Down

Turning Lower

Down – Possible Basing Formation?

Turning Higher?

Down

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.