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

By | March 10, 2017

The dollar looks rather mixed on Friday and ahead of the NFP a neutral stance is probably the best bet. US$Jpy seems to have some medium term gains ahead although the short term indicators are mixed, so buying dips may be the way forward. The Aud did as we thought it might and traded under pressure against both the dollar and on the crosses and the same would seem to apply today, particularly against the US$ and the Euro although the other crosses look a little more neutral. Commodities all look heavy and selling into near term rallies is again favoured. Have a good w/e.

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*Trade of the day: 3/10/2017 8:01 AM (AET)

No trade today – wait for the NFP. Possibly look to sell AudUsd at 0.7580, in the event of a spike higher, with a SL placed at 0.7620 and a TP at 0.7490.

*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

Neutral

Neutral

Neutral

Turning lower

 

Turning higher

Turning higher

4 Hour

Turning higher

Turning higher

Turning higher

Turning lower

Down –Possible basing formation

Turning higher

Day

Neutral

Turning higher

Turning lower

Neutral

Down

Down

Week

Neutral

Down – Turning Neutral?

Up

Neutral

Neutral

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Neutral

Neutral

Down

Turning higher

4 Hour

Neutral

Neutral

Neutral

Possible basing formation.

Down -Oversold

Down – Oversold

 

Day

Turning lower

Turning lower

Neutral

Down

Down

Turning lower

Week

Up –Overbought.

Up –Overbought.

Possible topping formation?

Neutral

Neutral –

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Up –Overbought.

Turning lower

Neutral

Neutral

Overbought.-  Turning lower?

Neutral

4 Hour

Up

Turning lower?

Turning higher

Neutral

Up

Turning lower

Day

Neutral -Turning higher

Turning higher

Neutral

Turning lower

Up

Up

Week

Turning lower

 Neutral

Neutral

Possible topping formation.

Neutral –Turning lower

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) 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.