13-Jan: Trade possibilities and Trend table outlook for FX, Commodities, Indices.

EURUSD USDJPY GBPUSD USDCHF AUDUSD NZDUSD
1 Hour Turning Higher? Turning Lower Neutral Neutral Possible Topping Formation Turning Higher
4 Hour Turning Higher Possible Topping Formation Neutral Neutral Up Turning Higher
1 Day Turning Lower? Neutral Neutral Turning Lower Down Down
1 Week Neutral Neutral Neutral – Turning Higher? Neutral Neutral – Turning Higher? Neutral – Turning Higher?

 

DXY S+P ASX200 GOLD SILVER OIL_WTI
1 Hour Turning Lower Turning Lower Turning Lower? Turning Higher Neutral – Turning Higher? Turning Neutral
4 Hour Turning Lower? Turning Lower Turning Lower Neutral Turning Neutral Turning Higher?
1 Day Turning Higher Possible Topping Formation Neutral – Turning Higher? Up Turning Higher Turning Lower?
1 Week Neutral – Turning Lower? Up Turning Lower? Bearish Divergence Bearish Divergence Neutral

 

EURJPY EURGBP GBPAUD AUDJPY EURAUD AUDNZD
1 Hour Neutral Neutral Turning Lower Turning Neutral Possible Basing Formation Possible Basing Formation
4 Hour Turning Higher? Neutral Turning Higher? Turning Higher Turning Lower Turning Higher
1 Day Neutral Neutral Turning Higher? Turning Neutral Turning Higher? Turning Higher?
1 Week Neutral – Turning Higher? Possible Basing Formation Turning Neutral Neutral Neutral Turning Lower?

Trade Idea:

There is not a lot to go on today, and with little economic activity Monday may be a quiet affair.

Of note, AudNzd may be turning a lttle higher although I do not trade that cross myself.

Possible short term strategies maybe:

  1. Buy EurUsd @ 1.1065. SL @ 1.1040, TP @ 1.1140
  2. Sell EurUsd @ 1.1140. SL @ 1.1170, TP @ 1.1065

Essentially, given the lack of economic activity over the next 24 hours, I suspect the Euro may be trapped between the 100 DMA (blue)/200 DMA (pink),as per the chart, and would therefore look to trade the range with a tight SL on either side.

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