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

By | February 14, 2017

There seem to be a few short term opportunities around today, with the US$ seemingly underpinned against the Euro, Chf and also the Aud, although that remains within its recent range. The crosses seem to hint at Sterling having some legs against both the Euro and the Aud, while AudNzd seems to have some short term downside within the greater uptrend, so buying dips may be a plan. Elsewhere, stocks seem to have no ceiling and will continue higher until the speculation over Trumps tax plan is clarified. I prefer to leave the stockmarkets alone for now. Gold and Silver are a little contradictory and so are best left alone, while WTI seems to have some further short term downside momentum but overall remains within the medium term range

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*Trade of the day: 2/14/2017 8:32 AM (AET)

AudNzd seems to be building some steam to move higher, so looking to buy a dip to 1.0600, with a SL placed under 1.0560 but looking for a run towards 1.0740 descending trend resistance seems to be a plan.

*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 lower

Down

Neutral

Up –Bullish Divergence?

Turning lower

Neutral

4 Hour

Neutral –Turning lower?

Neutral – Possible topping formation.

Neutral

Turning higher?

Turning lower

Neutral

Day

Down

Turning higher

Neutral

Up

Neutral –Possible topping formation.?

Down

Week

Turning Higher

Turning lower

Up

Turning lower

Neutral -Turning Higher?

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Up

Up

Up -Bearish Divergence

Neutral

Up

Down

4 Hour

Up

Up

Up

Neutral – Turning lower?

Turning higher

Turning lower

Day

Turning higher

Turning higher

Turning higher

Neutral

Turning higher

Neutral

Week

Up –Overbought.

Up –Overbought.

Turning higher?

Turning higher.

Neutral –Turning higher?

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning lower

Down

Up

Down

Neutral

Down

4 Hour

Neutral

Turning lower

Turning higher

Turning lower

Turning higher?

Turning lower

Day

Neutral

Neutral

Neutral

Neutral

Turning lower?

Turning higher

Week

Turning lower?

 

Neutral – Turning lower?

Neutral

Up – Possible topping formation.

Neutral –Turning lower

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) 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.