10-Aug-17: Trend table outlook for FX, Commodities, Indices.

By | August 10, 2017

Some short term US$ weakness seems possible today although I don’t think we see a great deal of action, in the absence of any major data, unless the US-Neutral/North Korea rhetoric gears up. Gold still looks as though it may have some short term upside momentum, which underlines the soft dollar scenario. That aside it is all a bit mixed, although the Yen appears set to get a short term reprieve against the dollar and the crosses. On the other hand, the Chf still seems set to stay in demand.

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*Trade of the day: 8/10/2017 8:11 AM (AET)

Sell EurUsd @ 1.1800. SL @ 1.1840, TP @ 1.1680

*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.

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EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Turning higher

Turning higher

Neutral

Neutral – Turning higher?

Turning higher

Turning higher

4 Hour

Turning higher

Turning higher?

Turning higher

Turning lower

Turning higher

Turning higher

Day

Turning lower

Neutral

Turning lower

Turning lower

Down

Down

Week

Up

Neutral

Turning higher

Turning higher?

Up

Up – Possible topping formation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Up

Turning higher

Neutral

Up –Becoming Overbought

Up

Turning higher

4 Hour

Turning higher

Turning lower

Neutral

Turning higher

Turning higher

Neutral

Day

Turning lower?

Possible topping formation.

Neutral

Neutral

Neutral

Possible topping formation.

Week

Neutral -Bearish Divergence

Turning higher -Bearish Divergence

Turning lower

Neutral

Neutral

Neutral – Turning higher?

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Up

Turning higher

Neutral

Turning higher

Neutral

Turning lower

4 Hour

Turning higher?

Turning lower

Turning higher

Turning higher?

Neutral

Turning lower

Day

Turning lower

Neutral –Turning higher?

Neutral

Turning lower

Neutral – Turning higher?

 

Neutral

Week

Up –Possible topping formation.

Turning higher

Neutral

Turning higher

Neutral

Neutral -Turning higher?


Green= Possible Buy Opportunity.

Red = Possible Sell Opportunity.

The products marked in red/green suggest either a short term (1hour/4 hour charts), a medium term trend (4 hour/daily 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.