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

By | February 16, 2017

The US$ seems to be under some short term pressure, so for the next few hours, at least, trading from the short side is preferred, although the dailies are still dollar supportive so buying dips also seems a plan. US stocks seem on a one way ride to the moon, so best left alone ahead of any nasty accident, or leave a tight stop on long positions. In the crosses (and also against the US$), the Aud seems to be picking up legs for further medium term gains although I am loathe to get long the Aud at these lofty levels and it has come a long way against the Euro already, so probably too late to jump on that one.

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*Trade of the day: 2/16/2017 8:14 AM (AET)

Buy EurUsd with a SL at 1.0585. SL;1.0555. TP; 1.0635

*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 higher

Down

Turning higher

Down

Up

Up

4 Hour

Turning higher

Turning lower

Neutral

Turning lower

Turning higher

Up

Day

Down

Turning higher

Neutral –Turning lower?

Up

Neutral

Down

Week

Neutral

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 lower

Up

Turning higher

Neutral

4 Hour

Up

Up

Becoming Overbought – Turning lower?

Neutral

Neutral

Neutral

Day

Turning higher

Turning higher

Up

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

Neutral

Neutral

Turning lower

Neutral

Neutral

Turning lower

4 Hour

Neutral

Turning higher

 

Turning lower

Turning higher

Turning lower

Down

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.