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

By | December 12, 2016

Trend Table:  Monday, December 12, 2016

Daily Outlook:

The Euro headed lower again on Friday as the market disseminated the fallout from the ECB Meeting and it unlikely to receive much assistance from Wednesday’s FOMC Meeting, where a rate rise looks a sure bet. The dollar also looks good against the Yen and Chf although one has to be wary, particularly of US$Jpy given the overbought nature of the daily charts. Elsewhere, Stocks look set to continue their current run although it would take a braver man than me to buy at these lofty levels. Gold appears to be struggling, and further US$ strength will see it break to new trend lows.

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

Bullish Divergence

Up Becoming Overbought

Neutral

Bearish Divergence

Neutral

Down

4 Hour

Down

Up

Neutral

Up

Turning lower

Turning lower

Day

Turning lower

Overbought

Neutral

Neutral -Turning higher

Up – Losing Momentum

Up –Losing Momentum?

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

Up –Bearish Divergence

Up –Bearish Divergence

Neutral

Down

Down

Neutral

4 Hour

Up

Up

Up

Turning lower

Turning lower

 

Turning higher

Day

Up

Up – Becoming Overbought

Turning higher

Down -Possible basing formation

Up

Up

Week

Up – Bearish Divergence?

Up

Turning higher

Turning lower

Neutral

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Turning higher

Neutral

Turning lower

Turning higher

Turning higher

4 Hour

Neutral

Turning lower

Neutral

Turning higher

Down

 

Turning higher

Day

Up –Possible topping formation

Neutral –Turning higher?

Neutral

Up –Possible topping formation

Neutral

Neutral

Week

Up

 

Down

Turning higher

Up

Neutral

Neutral