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

By | August 14, 2017

It all looks a bit mixed at the start of the week, and traders will by shy of putting on extra risk positions in light of the US.N Korea tension, but it does look as though the Euro is likely to remain form against the dollar in the short term and US$Jpy also looks set to recover mildly, so buying EurJpy may be a play for the day – at least according to the short term charts. The Aud$ also looks as though it wants to take another look above 0.7900, and Aud Jpy also seems a bit better bid in the short term but again, these pairs would come under pressure if there is to be another sell off of risk-associated assets. Being long of AudNzd may be a medium term plan but it is rather choppy and I would only consider buying dips (@ 1.0700? SL 1.0600, TP 1.0950?). Elsewhere the US stock indices appear set for a near term recovery, but with the longer term charts pointing lower selling rallies seems to be the theme.

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*Trade of the day: 8/14/2017 7:17 AM (AET)

Buy EurJpy @ Market (129.00). SL @ 128.40, TP @ 130.00

*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

Up – Possible topping formation.

Turning higher

Neutral

Neutral –

Turning higher

Turning lower

4 Hour

Turning higher

Turning higher

Turning higher

Turning higher

Turning higher

Turning higher

Day

Turning lower

Turning lower

Turning lower

Turning lower

Down

Down

Week

Up

Neutral

Turning higher

Neutral

Up

Turning lower

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Up

Up

Up

Bearish Divergence

Neutral

Up

4 Hour

Turning higher

Turning higher?

Possible basing formation.

Possible topping formation.

Possible topping formation.

Turning higher?

Day

Down

Turning lower

Neutral

Turning higher

Turning higher

Turning lower?

Week

Neutral -Bearish Divergence

Neutral -Bearish Divergence

Neutral

Neutral

Neutral

Neutral – Turning higher?

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning higher

Turning lower

Neutral

Up

Turning lower

Neutral

4 Hour

Turning higher

Bearish Divergence

Turning higher

Turning higher

Turning higher

Turning lower

Day

Turning lower

Neutral –Turning higher?

Neutral

Turning lower

Turning higher

 

Neutral –Turning higher

Week

Up –Possible topping formation.

Turning higher

Neutral –Turning lower?

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.