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

By | February 6, 2017
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The start of the week requires a nimble stance following the non-committal moves seen after Friday’s US jobs data. If anything, the commodity complex looks a little more robust, with the charts hinting at both the Aud and the Kiwi looking to remain underpinned, while Gold and Silver also appear set to remain firm. Elsewhere things look set to remain choppy, with the US$ largely undecided in the short term but looking a little heavy against the Yen and the Chf in the longer term charts, which may mean some safe haven demand will be required in the days ahead.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Neutral

Neutral

Neutral

Neutral

Turning higher

4 Hour

Turning lower?

Neutral

Turning lower

Neutral

Neutral – Possible topping formation.

Neutral

Day

Turning higher?

Turning lower

Turning lower

Down – Possible basing formation.

Turning higher

Up –Possible topping formation?

Week

Turning Higher

Turning lower

Up

Turning lower

Neutral -Turning Higher

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Overbought.

Overbought.

Neutral

Turning higher

Turning higher

Neutral

4 Hour

Turning higher

Turning higher

Neutral

Neutral

Neutral

Neutral

Day

Neutral –Turning lower?

Neutral –Turning lower?

Down

 

Neutral – Turning higher ?

Turning higher

Neutral

Week

Up

Up

Possible Topping Formation.

Turning higher.

Neutral –Turning higher?

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

 

 

Neutral

Turning lower? – Bullish Divergence?

Neutral

Turning higher

Neutral

4 Hour

Neutral

Up

Down

Turning higher?

Down -Possible basing formation.

Overbought- turning lower?

Day

Neutral

Neutral

Neutral – Turning lower?

Neutral

Neutral –Turning lower?

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.

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