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

By | February 3, 2017

Ahead of today’s US jobs data a nimble stance is required on all fronts, although it does look as though we may see a bit of short covering in the US$ ahead of the NFP being released (exp +175K). Further out, more dollar weakness still seems possible although the daily momentum indicators do appear to be losing some of their momentum. That aside there is little to go on, and a quiet day may lie ahead of the US open.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Down

Up

Down

Neutral

Turning lower

Down

4 Hour

Turning lower

Turning higher

Down

Turning higher

Turning lower

Neutral – Bearish Divergence

Day

Turning higher?

Neutral -Turning lower?

Up – Turning Neutral?

Down

Neutral

Up –Possible topping formation?

Week

Turning Higher

Turning lower

Up

Turning lower

Turning Higher

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Neutral

Turning lower

Down

Down

4 Hour

Turning higher

Turning higher

Neutral

Possible topping formation.

Turning lower

Neutral

Day

Neutral –Turning lower?

Neutral –Turning lower?

Down

 

Neutral

Turning higher

Neutral

Week

Up – Possible topping formation?

Up – Possible topping formation?

Possible Topping Formation.

Turning higher.

Neutral

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

 

 

Turning lower

Down –Possible basing formation.

Neutral

Down – Oversold

Overbought- turning lower?

4 Hour

Turning lower

Neutral

Down

Turning higher?

Down

Up

Day

Neutral

Neutral

Neutral

Neutral

Neutral

Turning higher ?

Week

Up – Turning Neutral?

 

Neutral – Turning lower?

Turning higher

Up – Possible topping formation.

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.