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

By | February 24, 2017

Markets look pretty mixed today with no real momentum in the currency markets at all. Gold and Silver might want to head a little higher and the longer term trend in US stocks seems set to continue but that aside it look likely to be a fairly choppy session and trading the ranges around current levels seems to be the plan.

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*Trade of the day: 2/24/2017 8:39 AM (AET)

No trade today.

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EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Neutral

Up –Becoming Overbought

Neutral

 

Turning lower

Turning lower

4 Hour

Up

Turning lower

Turning higher

Down

Turning higher

Turning higher

Day

Turning lower

Neutral

Neutral

Turning higher

Neutral 

Down –Turning Neutral

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

Up – Becoming Overbought

Up – Becoming Overbought

Turning lower

4 Hour

Turning lower –Bearish Divergence

Turning lower –Bearish Divergence

Neutral

Turning higher

Turning higher

Neutral

 

Day

Up

Up

Up – Possible topping formation.

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

Up

Neutral

Neutral

Neutral

4 Hour

Neutral

Turning lower

Neutral

Neutral

Turning higher

Turning lower

Day

Turning lower

Turning lower

Neutral

Neutral

Turning lower?

Possible topping formation.

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.