29-Jun-17: Trend table outlook for FX, Commodities, Indices

By | June 29, 2017

It all looks rather “risk-on” again today, and looking for levels to sell the US$ does appear to be the gameplan, albeit that some of the short term momentum indicators are starting to look over-stretched.  Sterling, Euro and Chf all seem to have the legs for further gains, while the Aud may also be picking up some steam to test the major resistance levels at around 0.7730. Selling the dollar into short term strength remains favoured. The crosses are also moving and buying dips in the Eur/Gbp/Aud against the Yen seems to be a plan. Elsewhere, the clearest picture seems to be in WTI, where the corrective move off the recent lows seems to have further to run, and may be the clearest trade of the day.

 

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

*Trade of the day: 6/29/2017 9:28 AM (AET)

Buy WTI @ 44.10. SL @ 43.45, TP @ 46.20

*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

Turning higher

Up – Turning Neutral

Turning higher

Up – Turning Neutral

Turning higher

4 Hour

Up –Becoming Overbought

Neutral

Up

Down

Up

Turning higher

Day

Turning higher – Bearish Divergence?

Turning higher

Turning higher

Turning lower – Bullish Divergence?

Neutral –Turning higher?

 

Neutral -Turning lower?

Week

Turning higher

Neutral

Neutral

Turning lower

Neutral

Turning higher

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Up –Becoming Overbought

Up –Becoming Overbought

Up –Turning Neutral?

Neutral

Neutral

Up

4 Hour

Turning higher

Turning higher

Up

Neutral

Turning higher

Turning higher?

Day

Neutral

Neutral

Turning higher

Neutral

Turning higher?

Turning higher

Week

Bearish Divergence

Bearish Divergence

Turning lower

Neutral

Neutral

Neutral –Turning lower?

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning lower

Turning lower

Neutral

Turning higher

Down

Turning lower

4 Hour

Up

Turning lower

Turning higher

Up

Turning lower

Turning higher

Day

Up –Bearish Divergence

Neutral

Turning higher?

Turning higher

Neutral

Turning higher

Week

Turning higher

Turning higher

Neutral

Neutral

Neutral

Turning lower


Green= Possible Buy Opportunity.

Red = Possible Sell Opportunity.

The products marked in red/green suggest either a short term (1hour/4 hour charts), a medium term trend (4 hour/daily 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.