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

By | January 24, 2017

The dollar still looks to remain under pressure although the short-term charts do hint that there may be better slightly levels to sell it than the current NY close. Cable in particular looks healthy, and it would seem that it is also going to benefit on the cross, where EurGbp may be in the process of forming a head/shoulder top. Elsewhere, Gold looks healthy due to safe-haven demand and US$ weakness, while the ASX, which has seen a decent run lower, looks as though it may stage a short term recovery before the downside resumes.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Turning Lower

Turning Higher

Turning Higher

Turning Higher

Neutral

Neutral

4 Hour

Turning Higher

Down

Up

Down

Turning Lower

Turning Higher

Day

Up

Turning Lower

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

Up

Turning Lower

Neutral

Neutral

4 Hour

Neutral

Neutral

Turning Higher

Turning Higher

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.

Turning Higher

Neutral

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning Higher

Down

Neutral

Turning Higher

Neutral

Turning Higher

4 Hour

Down

Turning Lower

Turning Higher

Down

Turning Higher

Neutral

Day

Neutral

Turning Lower?

Neutral

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.