3-Aug-17: Trend table outlook for FX, Commodities, Indices.

By | August 3, 2017

Markets look rather mixed on Thursday and it could well be a choppy session ahead while waiting on the US employment data tomorrow. The Euro looks a little heavy in the short term but the longer term uptrend is firmly intact. $/Chf looks bid in the medium term and it is possible that EurChf is still the best trade on the board, despite the fact that it has already come a long way. A return to 1.2000 in the cross would not surprise. Elsewhere, I still like buying both the Euro and Sterling against the Aud and the Kiwi. I suspect the ASX may be in for a downside move at some stage although it is very choppy and remains close to the 200 DMA pivot. WTI appears to be a buy on dips and I think another test of 50.00+ may not be too far away.

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*Trade of the day: 8/3/2017 8:01 AM (AET)

Sell EurUsd @ 1.1900. SL @ 1.1940, TP @ 1.1800

Buy GbpAud @ 1.6560. SL @ 1.6460, TP @ 1.6700

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

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EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Turning lower

Neutral

Neutral

Turning higher

Neutral

Neutral

4 Hour

Neutral –Turning lower?

Turning higher

Neutral

Neutral

Neutral

Down

Day

Up

Turning lower?

Turning higher

Turning higher

Turning lower

 

Turning lower

Week

Up

Neutral

Turning higher

Turning higher?

Up

Up

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Up

Neutral

Turning higher

Neutral

Turning lower

Turning higher

4 Hour

Neutral

Turning lower

Neutral

Turning lower

Turning lower

Neutral

Day

Turning lower?

Up

Turning higher

Turning higher?

Neutral

Up

Week

Neutral -Bearish Divergence

Turning higher -Bearish Divergence

Turning lower

Neutral

Neutral

Neutral – Turning higher?

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral –Turning lower?

Neutral

Neutral

Neutral

Neutral

Neutral

4 Hour

Turning higher

Neutral

Neutral –Possible topping formation.

Neutral

Turning higher

Turning higher

Day

Neutral –Turning higher?

Neutral

Turning higher

Turning lower

Turning higher

 

Neutral – Turning higher?

Week

Up

Turning higher

Neutral

Turning higher

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), 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.