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

By | January 19, 2017

The late session rally in the dollar following the comments from Janet Yellen has ensured that all the short-term momentum indicators are now pointing towards further dollar strength in what looks likely to be a volatile run in to Donald Trump’s inauguration on Friday. At the same time, the longer-term chart still hint at potential further weakness in the dollar so a cautious stance is needed in the next couple of days, so be nimble! US stocks remain flat, although the ASX may temporarily have seen a base. Commodities look set to move in line with the dollar.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Down

Turning Higher

Down

Up

Down

Down

4 Hour

Down

Up

Turning Lower

Turning Higher

Turning Lower

Turning Lower

Day

Up

Down

Neutral

Down

Up

Up

Week

Down -Possible Basing Formation?

Up -Possible topping formation

Neutral – Turning Lower?

Turning Lower

Neutral -Turning Higher

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Turning Higher

Down

Down

Down

4 Hour

Neutral

Neutral

Down -Possible Basing Formation.

Turning Lower

Neutral

Neutral

Day

Turning Lower?

Down

Down

 

Up

Turning Higher

Down

Week

Up –Possible topping formation?

Up –Becoming Overbought – Possible topping formation?

Up  – Possible Topping Formation.

Down – Possible Basing Formation

Neutral

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning Higher

Neutral

Neutral

Neutral

Turning Higher

Up

4 Hour

Up

Neutral

Turning Higher

Neutral

Turning Higher

Turning Higher

Day

Down

Turning Lower

Turning Lower

Neutral

Turning Lower?

Neutral

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.