1-Dec-16: Trend table outlook for FX, Commodities,Indices

By | December 1, 2016

Trending Table:  Thursday, December 1, 2016

Daily Outlook:

The US dollar has taken another turn high and looks as though there is more in it, although much depends on tomorrow’s US employment data.  All the momentum indicators look supportive for US$/Jpy in particular, but the dailies are at overbought extremes and so caution is warranted on the topside. Aud/Jpy seems to be picking up some steam and EurJpy may be a safer bet then buying US$Jpy. The commodity bloc looks heavy, at least in the short term and selling rallies seems to be a plan.  WTI has headed sharply higher following the OPEC deal and looks as though it has more upside to come. Stocks are flat.

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.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Down

Up –Becoming Overbought

Neutral

Turning lower

Down Becoming Oversold

Down

4 Hour

Neutral

Turning higher – Bearish Divergence?

Turning higher

Turning higher

Down

Down

Day

Turning higher

Up -Overbought

Neutral

Up –Possible topping formation

Neutral –Turning higher?

Turning higher?

Week

Turning lower

Up

Turning higher

Turning higher

Neutral – Turning lower?

Neutral – Turning lower?

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Turning lower

Turning lower

Neutral –

Down

Neutral

Up –Becoming Overbought

4 Hour

Neutral

Neutral

Neutral

Turning lower

Neutral

Up

Day

Up –Possible topping formation

Up –Possible topping formation

Up – Possible topping formation?

Down –Possible basing formation?

Down –Turning higher?

Neutral

Week

Turning higher –Possible Bullish Divergence?

Turning higher –Possible Bullish Divergence?

Turning higher

Turning lower

Turning lower?

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Up –Becoming Overbought

Down

Up

Neutral

Up

Neutral

4 Hour

Up

Neutral

Up

Neutral

Turning higher

 

Turning lower

Day

Up

Neutral

Neutral

Up

Neutral

Neutral

Week

Up

 

Down

Turning higher

Turning higher

Turning lower?

Neutral