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

By | February 21, 2017

Having been a US holiday and a very narrow range in most currency pairs/commodities/stocks it is a rather uninspiring start to the day. A neutral stance is therefore required on most fronts and I suspect we will need to see the US session begin before we see much movement. Ahead of that, the flash PMIs could create some waves, as could the RBA Minutes, for the Aud$, although this seems unlikely.

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*Trade of the day: 2/21/2017 7:36 AM (AET)

No trade today. Although mildly prefer a long US$ stance against the Euro, Chf.

*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

Neutral

Neutral

Neutral

Neutral

 

Neutral

Neutral

4 Hour

Neutral

Neutral

Turning higher

Turning higher

Neutral

Neutral

Day

Turning lower?

Neutral

Neutral -Turning lower?

Turning higher

Neutral –Turning lower?

Down

Week

Neutral

Down

Up

Turning lower

Neutral -Turning Higher?

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Neutral

Neutral

Neutral

Neutral

4 Hour

Neutral – Turning lower?

Neutral – Turning lower?

Down

Neutral

Neutral

Neutral

Day

Up

Up

Up

Neutral

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

Neutral

Neutral

Neutral

Neutral

4 Hour

Neutral

Turning lower

Neutral

Neutral

Neutral

Neutral

Day

Neutral

Neutral

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.