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

By | August 8, 2017

It looks as though markets are going to be largely on hold until Friday’s US CPI figure is released, with a general lack of interest due to the northern hemisphere summer holidays. I would not be too involved today although it may be that we do see further US$ strength in the days ahead. Selling short term weakness may therefore be a plan.

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*Trade of the day: 8/8/2017 7:57 AM (AET)

Sell EurUsd @ 1.1850. SL @ 1.1920, TP @ 1.1700

*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

Neutral

Turning lower

Turning higher

Neutral

Turning higher

Turning higher

4 Hour

Neutral

Neutral

Down

Neutral

Turning lower

Down

Day

Turning lower

Turning higher?

Turning lower?

Turning higher

Turning lower

Down

Week

Up

Neutral

Turning higher

Turning higher?

Up

Up

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Turning higher?

Turning higher

Turning higher

Turning higher

4 Hour

Turning higher

Neutral – Bearish Divergence

Up

Turning lower

Turning higher?

Neutral

Day

Neutral -Turning lower?

Up

Neutral

Neutral –Turning lower?

Neutral

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

Neutral

Neutral

Neutral

Neutral

Neutral

Turning lower

4 Hour

Neutral

Neutral

Neutral

Neutral

Neutral

Turning higher

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.