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

By | February 9, 2017

The Yen seems to have some medium term upside potential against both the US$ and also the Euro, although the short term charts suggest a choppy session ahead, with some possible minor gains, so selling rallies seems to be the theme there. Elsewhere, Gold and Silver both look constructive in the medium term, but as with yesterday we may see a little near term weakness, so buying dips is again preferred. WTI also seems to have some short term gains ahead, although the longer term outlook remains rangebound. Following the RBNZ decision, AUDNZD looks to have some short term gains ahead, but also remains rangebound in the longer term.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Turning higher

Neutral

Neutral

Neutral

Down

4 Hour

Turning higher

Neutral

Up

Turning lower

Neutral

Turning lower

Day

Turning lower

Down

Neutral

Turning higher

Turning lower?

Possible topping formation? –Turning lower

Week

Turning Higher

Turning lower

Up

Turning lower

Neutral -Turning Higher?

Neutral – Turning higher?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Neutral

Turning lower

Turning lower

Turning higher

4 Hour

Neutral

Neutral

Neutral

Turning higher

Neutral

Up

Day

Neutral

Neutral

Neutral

Up

Turning higher

Turning lower

Week

Up –Possible topping formation

Up –Possible topping formation

Possible Topping Formation.

Turning higher.

Neutral –Turning higher?

Neutral

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning higher

Turning higher

Neutral

Neutral

Neutral

Up

4 Hour

Turning higher

Down

Up

Neutral

Turning higher

Turning higher

Day

Turning lower

Neutral

Neutral – Turning lower?

Neutral

Neutral –Turning lower?

Neutral

Week

Turning lower?

 

Neutral – Turning lower?

Turning higher

Up – Possible topping formation.

Neutral

Neutral

 


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.