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

By | December 14, 2016

Trend Table:  Wednesday, December 14, 2016

Daily Outlook:

Markets have traded sideways on Tuesday and while awaiting the result of today’s FOMC Meeting a cautious stance is required. Almost all products are neutral, at least in the short term. In the longer term, if anything, it looks as though the US dollar could come under some pressure, which if Janet Yellen suggests that only one rate hike is on the horizon could come about. Elsewhere, stock indices look as though they have no top, although I am not game to get involved at these levels. Best bet is to stand aside and wait for the noise of the FOMC to die down.

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

Neutral

Neutral

Down

Neutral

Neutral

Turning lower

4 Hour

Turning higher

Turning lower

Neutral

Turning lower

Neutral

Neutral

Day

Neutral –Turning higher?

Overbought –Turning lower?

Neutral

Neutral –Turning lower?

Up

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 – Bullish Divergence

Up – Bullish Divergence

Neutral

Neutral

Neutral

Neutral

4 Hour

Turning lower?

Turning lower?

Neutral – Bearish Divergence?

Neutral

Neutral

Turning lower – Bearish Divergence

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

Neutral

Neutral

Neutral

Neutral

Neutral

4 Hour

Neutral

Neutral

Neutral

Neutral

Turning higher

 

Neutral

Day

Possible topping formation

Neutral

Neutral

Up –Possible topping formation

Neutral

Neutral

Week

Up

 

Down

Turning higher

Up

Neutral

Neutral