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

By | March 7, 2017

After a day of consolidation, all the short term charts have pretty much lost their previous momentum and there is little that stands out as an opportunity for the coming session.  The metals looks as though they may have some downside but that depends largely on seeing a stronger dollar, which right now looks set to be choppy, but without too much direction. AudNzd appears to have some upside potential which may come about but this depends on what the RBA have to say later in the session.

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*Trade of the day: 3/7/2017 8:04 AM (AET)

No trade idea today

*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

Turning higher

Down

Turning higher

 

Turning lower

Turning lower

4 Hour

Up –Turning Neutral

Down

Neutral – Turning Higher?

Neutral

Turning Higher

Neutral –Becoming Oversold

Day

Neutral

Turning higher

 

Turning lower

Turning higher

Down

Down

Week

Neutral

Down – Turning Neutral?

Up

Neutral

Turning Higher?

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Turning Higher

Turning Higher

Neutral

Down

Down

Neutral

4 Hour

Down

Down

Neutral

Turning lower

Neutral

Turning Higher

 

Day

Up – Possible topping formation.

Up – Possible topping formation.

Turning lower

Neutral – Turning lower?

Turning lower

Neutral – Turning lower?

Week

Up –Overbought.

Up –Overbought.

Possible topping formation?

Turning higher

Neutral –Turning higher?

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Neutral

Neutral

Neutral

Neutral

Up – Bullish Divergence

4 Hour

Turning lower

Up –Possible topping formation.

Neutral

Neutral

Turning lower

Up

Day

Turning higher

Turning higher?

Neutral

Neutral

Up

Turning higher?

Week

Turning lower

 Neutral

Neutral

Possible topping formation.

Neutral –Turning lower

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) 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.