5-Dec-16: Trend table outlook for FX, Commodities,Indices

By | December 5, 2016

Trending Table:  Monday, December 5, 2016

Daily Outlook:

Sterling looks to retain a bid tone at the start of the week, and trading from the “long” side against the US$, Aud$ and the Euro looks to be an opportunity although this could come unstuck if the High Court Brexit Appeal, due to start today heads in the wrong direction for the Government, which appears to be highly possible. In other currencies, the main interest currently seems to be in the Yen, which looks destined to stay under pressure, but may be a better “sell” on the crosses than against the US$.

Elsewhere, WTI appears to be set for some interesting trade, and if it makes a break above current levels, it could have some serious upside potential given the weekly reverse head/shoulder formation seen in the weekly charts. Keep an eye out for Silver as well. A topside break of 16.85 could see a swift move towards 17.20, possibly 17.50.

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.

 

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Turning lower

Up

Neutral

Up

Up

4 Hour

Neutral

Down

Up

Neutral

Turning higher

Neutral

Day

Turning higher

Up -Overbought

Turning higher?

Neutral –Possible topping formation

Turning higher?

Turning higher

Week

Turning lower

Up

Turning higher

Turning higher

Neutral – Turning lower?

Neutral – Turning lower?

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Turning higher

Neutral

Turning higher

Turning higher

4 Hour

Neutral

Neutral

Neutral

Turning higher? – Bullish divergence?

Neutral

Up – Becoming Overbought

Day

Turning lower

Possible topping formation –Turning lower?

Turning higher?

Down –Possible basing formation

Neutral –Turning higher?

Turning higher

Week

Turning higher – Bearish Divergence?

Turning higher –Possible Bullish Divergence?

Turning higher

Turning lower

Neutral

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Down

Neutral

Neutral

Turning lower

Neutral

4 Hour

Turning lower

Turning lower

Neutral

Neutral

Turning lower

 

Turning higher

Day

Up

Neutral

Turning higher

Up

Neutral

Neutral

Week

Up

 

Down

Turning higher

Turning higher

Neutral

Neutral