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

By | January 27, 2017

It all looks rather confused at present, and a cautious stance is required heading into the weekend. Sterling still looks to have further medium term upside potential against both the US$ and against the Euro but otherwise the waters look rather muddy. The short-term charts hint at a possible short term top in US stocks although the longer-term indicators do not suggest any sort of meaningful reversal. WTI looks as though it may have some near-term upside potential but further out, concerns of oversupply seem set to put a cap on any longer term rally. 

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Turning Higher

Turning Lower

Neutral

Neutral

Turning Higher

Turning Higher

4 Hour

Down

Turning Higher

Turning Lower

Turning Higher

Turning Lower

Turning Lower

Day

Up – Possible Topping Formation.

Turning Lower

Turning Higher

Down

Up – Possible Topping Formation.

Up

Week

Down -Possibly Turning Higher?

Up -Possible topping formation

Turning Higher

Turning Lower

Neutral -Turning Higher

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Down

Down

Down

Turning Higher

Turning Higher

Up

4 Hour

Possible Topping Formation.

Possible Topping Formation.

Turning Higher

Down

Turning Lower

Turning Higher

Day

Neutral- Turning Higher?

Neutral- Turning Higher?

Down

 

Turning Lower

Turning Lower

Neutral

Week

Up

Up –Becoming Overbought – Possible topping formation?

Up – Possible Topping Formation.

Turning Higher

Neutral

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Neutral

Turning Lower

Turning Lower

Turning Lower

Neutral

4 Hour

Turning Higher

Turning Lower

Turning Lower

Neutral

Neutral

Turning Higher

Day

Neutral

Down

Turning Higher

Neutral

Turning Lower

Neutral

Week

Up – Turning Neutral?

 

Neutral -Turning Higher?

Neutral

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.