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

By | February 22, 2017

The US$ seems to be building the legs for a more sustained move higher against the Euro, Chf and possibly the Yen although Cable and the Aud seems to be reasonably underpinned as they continue to trade within their recent ranges. On that basis, given the Euro weakness, both EurGbp and EurAud seem to have some short term downside momentum ahead.  Elsewhere, stocks appear set to remain underpinned while WTI seems to be moving to the topside, out of its recent range and may be ready to make further gains.

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*Trade of the day: 2/22/2017 8:06 AM (AET)

Selling EurGbp still seems to be a good bet. Sell @ 0.8465. SL; 0.8520. TP; 0.8380.

*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

Up

Neutral

Turning higher

Turning lower

 

Neutral

Up

4 Hour

Down

Up

Turning higher?

Up

Neutral

Turning higher?

Day

Turning lower

Neutral –Turning higher?

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

Up

Up

Up

Neutral

Up

Turning lower

4 Hour

Turning higher?

Turning higher?

Turning higher?

Neutral

Neutral

Turning higher?

Day

Up

Up

Up

Neutral

Turning higher?

Turning higher?

Week

Up –Overbought.

Up –Overbought.

Turning higher?

Turning higher.

Neutral –Turning higher?

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Down

Neutral

Turning higher

Down -Possible basing formation?

Neutral

4 Hour

Neutral

Down

Neutral

Turning higher?

Down

Neutral

Day

Neutral

Neutral

Neutral

Neutral

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.