Trend table outlook for FX, Commodities, Indices:29-Nov-16

By | November 29, 2016

Trending Table:  Tuesday, November 29, 2016

Tuesday outlook:

The reverse in the dollar has caused a more cautious tone in most markets with very little standing out as an obvious trade, particularly in the short term. WTI seems to have a near term bid tone that could carry it higher although with the OPEC Meeting upon us, I would not want to carry any positions through any announcements coming from Vienna. In the longer term, the weekly trends mostly remain intact although the dailies, in almost all cases, are showing possible signs of topping out or basing. Given the mixed nature of the charts, standing aside seems to be the best stance, possibly waiting until after the NFP on Friday to find any real directional move.

 

Green = Possible Buy Opportunity.

Red = Possible Sell Opportunity.

The products marked in red/green mark suggest ether a short term (1 hour/4 hour charts) or a longer term trend, where the dailies are aligned (or seem to be aligning with) with the weekly indicators.

The shorter term (1+4 hours) momentum indicators may also be aligned with the longer-term charts, but equally likely may be pointing in the opposite direction and may suggest a buy or sell level on a pull back, in which case a particular product may show a short term bias that differs from the longer term bias. In order to work out shorter 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 www.fxcharts.net daily outlook, using the buy/sell support and 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; MACDs, RSIs, Slow Stochastics.

 

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Neutral

Neutral

Neutral

Neutral

Turning lower

Neutral

4 Hour

Neutral

Down

Neutral

Neutral

Up

Turning higher

Day

Becoming Oversold – Possible basing formation

Up –Turning lower?

Neutral

Up –Possible topping formation

Turning higher

Turning higher

Week

Turning lower

Up

Oversold- turning higher

Turning higher

Turning lower

Down

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Neutral

Neutral

Neutral –

Neutral

Neutral

Turning higher

4 Hour

Turning lower

Turning lower

Down

Up

Up

Turning higher

Day

Up –Possible topping formation

Up –Possible topping formation

Up

Down –Possible basing formation?

Down –Possible basing formation?

Neutral

Week

Turning higher –Possible Bullish Divergence?

Turning higher –Possible Bullish Divergence?

Turning higher

Turning lower

Turning lower

Neutral

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Neutral

Neutral

Neutral

Neutral

Neutral

Neutral

4 Hour

Down

Turning higher

Turning lower

Down

Neutral

 

Neutral

Day

Up –Possible topping formation

Down –Possible basing formation?

Neutral

Up

Neutral

Neutral

Week

Up

 

Down

Turning higher

Turning higher

Neutral

Neutral

 

 

delay: 2h