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

By | January 5, 2017

Once again, opportunities appear rather limited today as we await tomorrow’s NFP figure. The Euro, Yen and Aud may all have some minor upside potential although I would not be getting too excited. The ASX SPI also appears well underpinned, although I am wary of buying it at these levels, last seen 18 months ago..

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Neutral

Up

Neutral

Turning lower

Neutral

4 Hour

Turning higher

Turning lower

Neutral

Neutral

 

Up

               

Neutral

               

Day

Up – Turning Neutral?

Down

Neutral

Turning lower?

Turning higher

Turning higher

Week

Down

Up

Up – Turning Neutral?

Up

Turning lower

Neutral – Turning lower?

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Up – Becoming Overbought

Up

Turning higher

Turning lower

Turning lower

Up

4 Hour

Turning higher

Neutral

Neutral

Neutral

Neutral

Neutral

Day

Down -Turning Neutral?

Down

Up

Up

Turning higher

Neutral

Week

Up –Possible topping formation?

Up –Becoming Overbought – Possible topping formation?

Up

Down –Turning Neutral

Neutral -Turning lower?

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning higher

Neutral

Neutral

Neutral

Up

Neutral

4 Hour

Neutral

Neutral

Neutral

Neutral

Turning higher

Up

Day

Turning lower

Neutral

Neutral

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.