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

By | January 9, 2017

Most markets look pretty mixed in the short term following Friday’s US jobs data although short term US$ strength looks possible today, but I would not be getting too carried away. Elsewhere the picture is mixed and we may be in for a choppy, but rangebound, session in most markets. The ASX as though it may have further upside in the longer term, but this is going to depend on the global indices making gains, which may prove tricky as we await the inauguration of the Trump administration, due 20 Jan.                                                                                                                                                                                                                     .

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Down

Up

Down

Turning higher

Turning lower

Down

4 Hour

Turning lower

Turning higher

Turning lower

Turning higher

Turning lower

Turning lower

Day

Up

Down

Neutral – Turning higher?

Turning lower?

Up

Up

Week

Down – Turning Neutral?

Up

Up – Turning Neutral?

Up – Turning Neutral?

Turning lower

Neutral – Turning lower?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Up

Turning lower

Neutral

Neutral

Neutral

4 Hour

Turning higher

Neutral

Neutral

Turning lower

Neutral

Neutral

Day

Neutral

Down -Turning Neutral?

Up

Up

Turning higher

Neutral

Week

Up –Possible topping formation?

Up –Becoming Overbought – Possible topping formation?

Turning higher

Down –Turning Neutral

Neutral -Turning lower?

Neutral – Turning higher

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Neutral

Neutral

Turning higher

Neutral

Up

4 Hour

Turning higher

Turning higher

Turning lower

Turning higher

Turning higher

Turning higher

Day

Turning lower

Neutral

Neutral

Neutral

Neutral

Turning higher?

Week

Up

 

Down

Turning higher

Up

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.