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

By | September 21, 2017

The FOMC decision has turned the US$ higher against the majors, and it looks as though it may have further to run on the topside, particularly against the Eur, Chf and Jpy all of which saw key reversal days, as did Cable although, from a technical perspective the outlook here is a little less clear. In the crosses, EurGbp looks to have further downside while EurJpy seems set to remain underpinned in the medium term, as does GbpAud.

Gold looks a little heavy, and which will remain pressured if the dollar remains firm, while I guess the stock markets will continue their slow grind higher although I do not wish to be involved there. Finally, although there is no real technical indication, I suspect that WTI could be in for a test of 52.00 at some stage.

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EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Down

Up

Turning lower

Up

Down

Down

4 Hour

Down

Turning higher –Bearish Divergence

Down

Turning higher

Neutral

Possible topping formation

Day

Turning lower

Turning higher

Up

Neutral-Turning higher

Neutral –Turning lower?

 

Turning higher?

Week

Up – Possible topping formation

Neutral – Turning higher?

Turning higher

Neutral

Neutral

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Neutral

Down

Turning lower

Neutral

4 Hour

Bearish Divergence

Bearish Divergence

Neutral

Turning lower

Neutral

Neutral

Day

Up

Up

Neutral

Down

Turning lower

Turning higher

Week

Neutral -Bearish Divergence

Neutral -Bearish Divergence

Neutral

Neutral

Neutral

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Down

Neutral

Up

Down

Neutral

4 Hour

Turning lower

Turning lower

Down

Up

Turning lower

Turning lower?

Day

Turning higher

Down

Turning higher

Turning higher

Neutral

 

Down

Week

Neutral –Turning higher?

Turning lower

Neutral –Turning higher?

Neutral

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), a medium term trend (4 hour/daily charts) or a longer term (daily/weekly) trend may be forming or underway

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 or the trading ideas 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.