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

By | December 15, 2016

The outcome of the FOMC meeting seems to have set up a fair few trading opportunities.

The US dollar looks set to remain firm against almost all its counterparts, with both short term and long term indicators suggesting further gains against the Euro, Aud and Kiwi. It also shows the chance of further near term gains against the Yen, but with the dailies still being overbought some caution is warranted here.

Stock could be in for a bit of a correction after their recent run higher and will not like the fact that the Fed have penciled in 3 hikes for 2017. 

Gold looks to be in trouble, although the dailies are a little oversold, so caution is warranted, but if the dollar strengthens further the pressure will stay on the downside. Silver is also heavy but not to the same extent as Gold.

Oil is at an interesting juncture, back at the neckline of a reverse head shoulder formation that can be seen to the weekly charts. The short term momentum indicators are negative and the dailies appear to be topping out. A break of 49.50/50.00 would have bearish connotations I suspect.

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

Down

Up

Down

Up

Down

Down

4 Hour

Turning lower

Up

Turning lower

Neutral-Turning higher?

Turning lower

Down

Day

Turning lower

Overbought 

Neutral

Neutral

Turning lower

Neutral

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

Down

Down

Down

Down

Turning lower

Down

4 Hour

Down

Down

Turning lower

Turning lower

Neutral

Down

Day

Possible topping formation

Possible topping formation

Possible topping formation

Down -Possible basing formation

Up –Turning Neutral

Possible topping formation- Turning lower

Week

Up – Bearish Divergence?

Up

Turning higher

Down

Neutral

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Up

Neutral

Neutral

Turning higher

Turning higher

Neutral

4 Hour

Turning higher

Neutral

Neutral

Turning higher

Up

 

Neutral

Day

Possible topping formation

Neutral

Neutral

Up –Possible topping formation

Neutral

Neutral

Week

Up

 

Down

Turning higher

Up

Neutral

Neutral