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

By | August 9, 2017

It has been a mixed session for the US$ although the medium term charts seem to suggest that we could see further strength against most pairs in the coming sessions, with the possible exception of the Yen which looks set to remain in demand on safe-haven grounds and on growing risk aversion. An interesting point today was the fact that the S+P has put in a key day reversal (although the DJI just avoided doing so) and I would not be surprised to see stocks trade lower in the  next few days, which would increase risk aversion and demand for the Jpy. Aside from the Yen related crosses, AudNzd seems to be building for another leg higher, possibly towards 1.09/1.10 in coming days although I think there are clearer pairs to trade.

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*Trade of the day: 8/9/2017 9:01 AM (AET)

Sell S+P @ Market (2470). SL @ 2490, TP @ 2400

Sell EurUsd @ 1.1785. SL @ 1.1825, TP @ 1.1660

 

*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

Neutral

Turning higher

4 Hour

Turning lower

Turning lower

Turning lower

Neutral

Neutral

Down

Day

Turning lower

Neutral

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

Turning lower

Turning lower

Neutral

Turning higher

Turning higher

Neutral

4 Hour

Turning lower

Turning lower

Neutral

Neutral

Turning higher?

Neutral

Day

Turning lower?

Possible topping formation.

Neutral

Neutral

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

Down

Neutral

Turning higher

Turning lower

Neutral

Neutral

4 Hour

Turning lower

Turning lower

Neutral

Turning lower

Turning lower

Turning higher

Day

Turning lower

Neutral –Turning higher?

Neutral

Turning lower

Neutral

 

Turning higher?

Week

Up –Possible topping formation.

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.