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

By | December 16, 2016

It is all about the US$ again today, and it would appear that the same will apply heading into Christmas and the New Year. The metals appear to be under pressure due to the dollar’s strength, with both Gold and Silver looking heavy. WTI, less so, but it may be topping out after its recent run higher. Stocks are possibly best left alone at present, but the dailies may be showing early signs of rolling over to point lower. Leave the crosses alone – it is just the dollar that counts right now. Have a good day/weekend.

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

Becoming Oversold

Turning lower

Becoming Oversold

Turning lower

Becoming Oversold -Turning higher

Becoming Oversold -Turning higher

4 Hour

Down

Up – Becoming Overbought

Down

Up

 

Down

               

Down

               

Day

Turning lower

Overbought 

Turning lower

Turning higher

Turning lower

Turning lower

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

Neutral

Neutral

Neutral

Becoming Oversold –Turning higher

Becoming Oversold –Turning higher

Neutral

4 Hour

Neutral

Neutral

Neutral

Down

Down

Neutral

Day

Possible topping formation

Possible topping formation

Possible topping formation

Down -Possible basing formation

Turning lower

Possible topping formation- Turning lower

Week

Up – Bearish Divergence?

Up

Turning higher

Down

Turning lower

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Neutral

Neutral

Down

Neutral

Neutral

4 Hour

Turning lower

Neutral

Neutral

Turning lower-Bearish Divergence

Neutral

Neutral

Day

Possible topping formation

Neutral

Neutral

Up –Possible topping formation

Neutral

Neutral

Week

Up

 

Down

Turning higher

Up

Neutral

Neutral