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

By | August 4, 2017

The main action had been in Sterling today following the BOE meeting, and a bearish outside day in each of Gbp against US$/Aud$/NZ$ would hint at further downside to come in all these pairs, although we may need further clarity as the charts are still a little mixed. Elsewhere, Yen strength has returned and seems to have more to come, with the US$, Euro and Aud$ all looking under some pressure. The Aud$ may have some legs of its own today if the Retail Sales and MPS are upbeat, but in general, aside from a short-term trade in the Aud$, waiting for the NFP doesn’t seem a bad idea.

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*Trade of the day: 8/4/2017 8:12 AM (AET)

Sell GbpUsd @ 1.3190. SL @ 1.3270, TP @ 1.3010

*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

Neutral

Down

Turning higher?

Neutral

Turning higher

Turning higher

4 Hour

Neutral –Turning lower?

Turning lower

Down

Neutral

Neutral

Turning higher

Day

Up

Turning lower?

Neutral –Turning lower?

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

Neutral

Neutral

Neutral

Neutral

Neutral

Turning lower

4 Hour

Neutral

Turning lower

Neutral

Turning higher

Neutral

Neutral

Day

Turning lower?

Up

Neutral

Turning higher

Neutral

Up –Possible topping formation.

Week

Neutral -Bearish Divergence

Turning higher -Bearish Divergence

Turning lower

Neutral

Neutral

Neutral – Turning higher?

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning lower?

Overbought – Turning lower?

Down – Becoming Oversold

Neutral

Turning lower

Neutral

4 Hour

Turning lower

Turning higher

Turning lower

Turning lower

Turning lower

Neutral

Day

Neutral –Turning lower?

Neutral

Turning higher

Turning lower

Turning higher

 

Neutral – Turning higher?

Week

Up

Turning higher

Neutral

Turning higher

Neutral

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.