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

By | February 28, 2017

Things look a little mixed ahead of Donald Trump’s speech to Congress (tomorrow, Asian time) and there is not too much to go on. The Yen has turned things around late in the day and has shown some weakness, with the potential of more to come according to the short term momentum indicators although we are running into resistance at around 113.00. Gold and Silver, while looking firm in the medium term look a little soft for the coming session and maybe worth a sell although I would not be looking for too much on the downside. The ASX has been heavy, but may be able to play a little catch-up today although the dailies look as though they are rolling over, so medium term traders may prefer to sell into strength.

—————————————————————————————————————————

*Thought for the day: 2/28/2017 8:03 AM (AET)

No ideas today.

*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.

—————————————————————————————————————————

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Turning lower

Up

Neutral

Turning higher

 

Turning lower

Neutral

4 Hour

Neutral

Turning higher

Turning lower?

Neutral

Neutral

Neutral

Day

Neutral –Turning lower?

Neutral

Neutral

Turning higher?

Turning lower 

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

Turning higher

Turning higher

Up

Down

Down

Neutral

4 Hour

Neutral

Neutral

Turning higher

Turning lower

Turning lower

Neutral

 

Day

Up

Up

Turning lower

Neutral – Turning higher?

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

Up

Turning lower

Turning higher

Turning higher

Turning lower

Neutral

4 Hour

Turning higher

Turning higher

Neutral

Turning higher

Neutral

Turning lower

Day

Neutral -Turning lower

Neutral

Neutral

Neutral –Turning lower?

Possible basing formation

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.