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

By | December 2, 2016

Trending Table:  Friday, December 2, 2016

Daily Outlook:

Things look a little mixed today. The Yen remains under pressure, while Sterling seems to be building a base to head higher although there may be better levels in which to buy it if the shorter term charts are correct. WTI also looks as though it may have higher levels ahead of it, but after rallying 14% in the last two days it is difficult to jump on board here. A weekly close above 51.50 would add to the bullish tone for next week. The S+P looks a little heavy, but that is not really replicated in the DJI, so caution is warranted ahead of today’s NFP, and the weekend political risk in Italy/Austria.

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

Up

Down

Down

Down

Up

Neutral

4 Hour

Neutral

Bearish Divergence?

Turning higher

Neutral

Neutral

Turning lower

Day

Turning higher

Up -Overbought

Turning higher?

Neutral –Possible topping formation

Neutral

Turning higher?

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

Down

Up

Turning lower

Up

Neutral

Overbought – Turning lower

4 Hour

Turning lower

Neutral

Neutral

Turning higher? – Bullish divergence?

Neutral

Up – Becoming Overbought

Day

Turning lower

Possible topping formation

Up – Possible topping formation?

Down –Possible basing formation

Neutral –Turning higher?

Turning higher

Week

Turning higher – Bearish Divergence? Possible Bullish Divergence?

Turning higher –Possible Bullish Divergence?

Turning higher

Turning lower

Turning lower?

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning lower – Bearish Divergence

Up

Down

Neutral

Neutral

Neutral

4 Hour

Up

Neutral

Up

Neutral

Turning higher

 

Turning higher

Day

Up

Neutral

Neutral

Up

Neutral

Neutral

Week

Up

 

Down

Turning higher

Turning higher

Neutral

Neutral