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

By | February 15, 2017

The US$ looks set to remain underpinned against the majors, with the Yen looking as though it will remain under particular pressure, and with AudJpy also looking to have legs. EurJpy looks less sure given the heavy tone of the Euro itself. Elsewhere, US stocks seem to know no top, but as I said before I prefer to stand aside at these levels. As with yesterday, AudNzd seems to have some short term downside potential, but buying dips for the longer term uptrend seems to be the plan. Commodities look set to remain choppy and probably best left alone although Silver seems mildly underpinned.

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*Trade of the day: 2/15/2017 8:09 AM (AET)

EurUsd seems to have further downside potential. Selling a minor rally to 1.0600, with a SL at 1.0640 seems to be the plan, looking for 1.0525, and eventually 1.0455.

*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

Up

Neutral

Neutral

Neutral

Neutral

4 Hour

Turning lower

Turning higher

Neutral

Turning higher?

Neutral

Neutral –Bullish Divergence?

Day

Down

Turning higher

Neutral –Turning lower?

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

Turning higher

Neutral

Turning higher

Neutral

4 Hour

Up

Up

Turning lower

Neutral

Neutral

Neutral

Day

Turning higher

Turning higher

Turning higher

Neutral -Turning lower?

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 higher

Neutral

Neutral

Turning higher

Neutral

Turning lower

4 Hour

Neutral

Neutral

 

Neutral

Turning higher

Neutral

Turning lower

Day

Neutral

Turning lower?

Neutral

Turning higher?

Turning lower

Up

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.