20-Dec-16: Trend table outlook for FX, Commodities,Indices

By | December 20, 2016

As we approach the holiday the markets have become choppy, and with little data due today (BOJ Interest Rate Decision/RBA Minutes being the exceptions) it may be another rangebound session ahead, with the main theme being one of ongoing US$ strength. Elsewhere, the Aud and the Kiwi both look weak and further declines seem possible. Stocks may be a little toppish in the short term but overall a neutral stance is required, and the same applies to the commodities and also to the FX crosses although EurJpy is looking a bit heavy and could see some near term weakness.

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.

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EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Turning lower

Neutral

Neutral

Neutral

Bullish Divergence

Bullish Divergence

4 Hour

Neutral

Down

Neutral

Neutral

 

Down

               

Down

               

Day

Turning lower

Overbought 

Turning lower

Turning higher

Turning lower

Turning lower

Week

Turning lower

Up

Turning higher

Turning higher

Neutral –Turning lower?

Neutral – Turning lower

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Neutral

Neutral

Up

Up

4 Hour

Neutral

Neutral

Neutral

Turning higher

Turning higher

Turning higher

Day

Possible topping formation

Possible topping formation

Possible topping formation

Possible basing formation

Turning lower

Neutral

Week

Up – Bearish Divergence?

Up

Turning higher

Down

Neutral -Turning lower?

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning lower

Neutral

Neutral

Turning higher

Turning lower

Neutral

4 Hour

Turning lower

Neutral

Turning higher

Down

Up

Turning higher

Day

Possible topping formation

Neutral

Neutral

Possible topping formation

Neutral

Neutral

Week

Up

 

Down

Turning higher

Up

Neutral

Neutral