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

By | December 7, 2016

Trending Table:  Wednesday, December 7, 2016

Daily Outlook:

Markets are rather mixed in terms of short term bias today, following what has been a fairly rangebound session with the dollar mildly recovering some of the previous day’s losses and with stocks and commodities doing very little. EurUsd and GbpUsd both show the possibility of further, mild short term weakness, as do some of the crosses although nothing too directional. In the longer term Sterling, despite its current short term weakness, appears to be in a medium term uptrend against the US$ and also against the Aud, and further short term dips may offer better levels to buy into. EurJpy and AudJpy also seem to be a medium term buy, although again, there may be better levels to get set, and buying into dips would be preferred. The S+P looks mildly bid in the short term, but is 5 points from its all time highs and the move does not really appear to be backed up by the DJI.

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

Down

Neutral

Down

Neutral

Neutral

Neutral

4 Hour

Turning lower

Neutral

Turning lower

Neutral

Neutral

Neutral

Day

Up

Overbought –Turning lower

Turning higher

Turning lower

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

Turning higher

Neutral

Neutral

Neutral

Neutral

Turning lower

4 Hour

Turning higher

Neutral

Turning higher

Turning higher? –

Neutral

Becoming Overbought –Turning lower

Day

Neutral

Possible topping formation

Neutral

Down –Possible basing formation

Turning higher

Up

Week

Turning higher – Bearish Divergence?

Up

Turning higher

Turning lower

Neutral

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Down

Turning higher

Down

Neutral

Down

Neutral

4 Hour

Turning lower -Bearish Divergence?

Turning higher

Turning lower

Neutral

Turning lower

 

Neutral

Day

Up

Neutral –Turning higher?

Neutral -Turning higher?

Up

Turning higher?

Neutral

Week

Up

 

Down

Turning higher

Turning higher

Neutral

Neutral