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

By | January 30, 2017

After a generally choppy but sideways session on Friday, it all looks a little confused again at the start of the week and there are few opportunities that really stand out so a cautious stance is required. Sterling still looks to have some medium-term upside momentum although the near term picture suggests some choppy trade ahead today. US stocks also appear to remain in their longer term uptrend although I worry that we could see a very quick reversal at any time. Silver shot higher on Friday and may have further upside although Gold looks less enthusiastic so it is difficult to see Silver moving too far on its own.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Turning Lower

Neutral

Neutral

Neutral

Neutral

4 Hour

Neutral

Up –Possible topping formation?

Down

Neutral

Neutral

Neutral

Day

Turning lower?

Neutral -Turning higher?

Turning Higher

Possible basing formation?

Turning lower.

Up

Week

Down -Possibly Turning Higher?

Possible topping formation

Turning Higher

Turning Lower

Neutral -Turning Higher

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Neutral

Neutral

Up – Becoming Overbought

Neutral

4 Hour

Turning lower

Turning lower

Neutral

Turning higher

Turning higher

Neutral

Day

Turning Higher?

Turning Higher?

Down

 

Turning Lower

Neutral

Neutral

Week

Up –  Becoming Overbought

Up –  Becoming Overbought

Up – Possible Topping Formation.

Turning Higher

Neutral

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning lower

Neutral

Neutral

Neutral – Turning Lower?

Neutral

Neutral

4 Hour

Turning Higher

Turning higher

Turning Lower

Up

Neutral

Turning Higher

Day

Neutral

Down

Turning Higher

Neutral

Neutral

Neutral

Week

Up – Turning Neutral?

 

Neutral

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.

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