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

By | February 8, 2017

It all looks a bit mixed today. Sterling seems to have further near term upside potential against both the dollar and on the crosses and may be worth a buy into any short term dips. Elsewhere it seems that the dollar might have seen the worst of the recent downside correction against the Euro and the Chf and could be resuming its uptrend, so buying dips there may be a plan. I would steer clear of the Yen though, which looks to remain choppy in the short term but appears to have further downside potential for the dollar, further out but is also giving conflicting views against the Euro. Stocks are flat and not really worth looking at right now, while Gold seems to have minor downside potential within its greater uptrend, so buying dips may be a plan.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Turning higher

Neutral

Up

Neutral

Neutral

Neutral

4 Hour

Down

Turning higher

Turning higher

Turning higher

Down

Turning lower

Day

Turning lower

Turning lower

Neutral -Turning lower?

Turning higher

Turning lower?

Possible topping formation?

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

Turning lower.

Neutral

Neutral -Bearish Divergence

Neutral

Down

4 Hour

Neutral -Turning lower?

Turning lower?

Turning higher

Turning lower?

Neutral

Turning lower

Day

Neutral

Neutral

Turning lower

 

Up

Turning higher

Neutral

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

Up

Down

Up

Neutral

Neutral

Turning higher

4 Hour

Turning higher

Turning lower

Up

Turning higher

Turning higher

Turning lower

Day

Turning lower

Neutral

Neutral

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.

tags: forex, fx, stocks, trading, dollar