17-Jan-17: Trend table outlook for FX, Commodities, Indices

By | January 17, 2017

The picture is all rather confused today and a cautious stance is required on all fronts. Ahead of UK PM’s Brexit statement later today and DT’s inauguration on Friday it looks likely to stay that way. The short term Sterling charts are recovering from having become oversold but the longer term momentum indicators seem to suggest that it will stay under pressure in the medium term both against the dollar and on the crosses. Other than that, be nimble is the best advice, I think.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Neutral

Turning Higher

Neutral

Neutral

Neutral

4 Hour

Turning Lower

Turning Higher

Down

Turning Higher

Down

Turning Lower

Day

Up

Down

Turning Lower

Down

Up

Up

Week

Down -Turning Neutral?

Up -Possible topping formation

Neutral – Turning Lower?

Up – Possible Topping Formation

Neutral

Neutral – Turning lower?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Up

Neutral

Turning Lower

Neutral

Neutral

4 Hour

Neutral

Neutral

Neutral

Neutral

Neutral

Neutral

Day

Turning Lower?

Down

Possible Topping Formation -Turning Lower?

 

Up

Neutral

Down

Week

Up –Possible topping formation?

Up –Becoming Overbought – Possible topping formation?

Up

Down – Possible Basing Formation

Neutral

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning Higher

Turning Lower

Turning Higher

Turning Higher

Neutral

Neutral

4 Hour

Turning Lower

Turning Higher

Turning Higher

Turning Lower

Turning Higher

Turning Lower

Day

Down

Up

Down

Neutral

Neutral – Turning Lower?

Turning higher?

Week

Up – Turning Neutral?

 

Neutral -Turning Higher?

Turning Lower?

Neutral

Neutral

Neutral

 


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.

delay 1:h