21 Nov: Trending Table

By | November 21, 2016

21 November 2016 : Trending table

The products marked in red/green mark suggest a longer term trend, where the dailies are aligned (or seem to be aligning with) with the weekly indicators.

The shorter term (1+4 hours) momentum indicators may also be aligned with the longer term charts, but more likely will suggest a buy or sell level on a pull back. In order to work out shorter 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 FX charts daily outlook, using the buy/sell support and resistance levels, mentioned in the individual currency pairs, commodities or indices, as a guide.

Green = Possible Buy Opportunity

Red = Possible Sell Opportunity

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Neutral

Neutral

Neutral – Bearish Divergence?

Down – Oversold

Neutral

4 Hour

Oversold –Turning higher? – Bullish Divergence

Overbought

Turning lower

Up – Losing Momentum

Down – Becoming Oversold

Neutral – Bullish Divergence?

Day

Down

Up

Neutral

Up

Down

Down

Week

Neutral – Turning lower

Up

Oversold- turning higher

Turning higher

Turning lower

Turning lower

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Flat

Flat

Neutral

Neutral

Neutral

Turning higher

4 Hour

Neutral – Bearish Divergence?

Down – Turning Neutral

Turning higher

Neutral

Bullish Divergence

Turning higher

Day

Up

Up

Up

Down

Down

Turning higher

Week

Turning higher

Turning higher

Neutral

Turning lower

Turning lower

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Neutral

Neutral

Neutral

Neutral

Neutral

4 Hour

Neutral

Up – Turning Neutral

Turning higher

Down

Turning higher

 

Down

Day

Up

Down

Up

Turning lower

Turning higher

Neutral-Turning lower?

Week

Up

 

Down

Turning higher

Up

Neutral

Neutral

 

 

The trend tables are based on the direction of the oscillators; MACDs, RSIs, Slow Stochastics

BIAS:

After 10 straight days of gains, buying the US$ here could be dangerous although the strong uptrend is intact and looks to have a lot further to go heading into 2107. For the time being standing aside and looking to buy dips would seem to be the plan.

In the commodity markets, buying WTI at market, but leaving room to add to the position would seem favoured

Gold and Silver would seem to be a “sell-the rally” trade

In the crosses, EURJPY and GBPAUD would both seem to have further upside, entering small at current levels, again leaving room to add to the position on dips, while EURGBP would seem to be headed lower and we would prefer to sell into strength.