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

By | August 7, 2017

The US$ may have found a bit of a base – at least temporarily – and the Euro and Sterling in particular both look very tired and could have further downside ahead of them. Elsewhere, the Aud looks as though it may venture a bit lower over the next few days, while in the crosses, it would appear to be EurJpy that sees the most directional activity, with the downside apparently the path of least resistance according to the charts. A stronger dollar would also seem to be about to keep the metals under some mild downside pressure.

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*Trade of the day: 8/7/2017 8:37 AM (AET)

Sell EurUsd @ 1.1800. SL @ 1.1850, TP @ 1.1700

Sell EurUsd @ 1.1875. SL @ 1.1920, TP @ 1.1750

*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

Down- Becoming Oversold

Possible topping formation

Down- Becoming Oversold

Neutral –Turning higher?

Turning higher

Neutral

4 Hour

Down

Turning higher

Down

Neutral

Turning lower?

Neutral

Day

Turning lower

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

Turning higher?

Down- Becoming Oversold

Down- Becoming Oversold

Turning higher

4 Hour

Neutral

Neutral

Turning higher?

Turning lower

Turning lower

Neutral

Day

Turning lower?

Up

Neutral

Neutral

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?

Neutral

Turning lower

Neutral

Turning lower

Neutral

4 Hour

Turning lower

Possible topping formation.

Turning lower

Turning higher

Turning lower

Neutral

Day

Turning lower?

Neutral –Turning higher?

Neutral

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.