23-Jan-17: Trend table outlook for FX, Commodities, Indices

By | January 23, 2017

 

The dollar looks as though it may stay under some pressure in comings sessions with the momentum indicators seemingly higher to take the counterparts a bit higher. This appears most clearly in the EU majors where the Euro, Chf and Sterling all appear to have some positive momentum. The Yen, Aud and Kiwi look less clear. The metals also look underpinned although WTI looks rangebound and which, I suspect, is set to remain choppy. US Stocks are also neutral while the ASX looks encouraging in the short term but I prefer to sell into strength.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Up

Turning Lower

Turning Higher

Down

Neutral

Turning Higher

4 Hour

Turning Higher

Neutral

Neutral

Turning Lower

Turning Lower

Down

Day

Up

Neutral

Turning Higher

Down

Up

Up

Week

Down -Possibly Turning Higher?

Up -Possible topping formation

Neutral – Turning Higher?

Turning Lower

Neutral -Turning Higher

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Turning Higher

Turning Higher

Turning Higher

Turning Higher

Turning Lower

4 Hour

Neutral

Neutral

Turning Higher

Neutral

Neutral

Neutral

Day

Turning Lower

Down

Down

 

Up

Turning Higher

Down – Turning Neutral?

Week

Up –Possible topping formation?

Up –Becoming Overbought – Possible topping formation?

Up  – Possible Topping Formation.

Possible Basing Formation

Neutral

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Down

Neutral

Neutral

Down

Turning Higher

Turning Lower

4 Hour

Up

Neutral

Neutral

Turning Lower

Turning Higher

Neutral

Day

Neutral

Neutral -Turning Lower?

Neutral -Turning Lower?

Neutral

Down

Neutral

Week

Up – Turning Neutral?

 

Neutral -Turning Higher?

Turning Lower?

Up

Neutral

Neutral

 


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.