The Scanner for Futures (using Multicharts) shows that most of the currency futures are oversold, as well as Gold. Although it would be even better if the RSI indicator was below -50 (Crude is the only that is), with the volume divergences coming in, I would anticipate potential retracements on these higher timeframes. In fact, the Multicharts Scanner gives us a wealth of information for different timeframes, different markets, and different indicators. This allows us to monitor all these symbols and timeframes in one easy-to-read format.
Scanner for Futures Using Multicharts
Following the columns in the Scanner for Futures, we can anticipate a 99 tick retracement to the Average True Range Stop in Gold (ADX indicator already is registering a magenta peak). If Crude has a magenta peak, then we could see a 300 tick retracement. On the Euro, the 45 minute should retrace down to the Average True Range Stop (63 ticks) and then could continue up another 200 ticks (if the magenta peak on the 720 comes in).
The Swiss Franc 45 minute chart is at 73 on the ADX indicator and a retracement would only be about 49 ticks, it the MP comes in. However, there is no volume divergence at the moment so it may take a couple of more bars.
The Aussie Dollar is registering long volume divergence on the 720 and a retracement of about 150 ticks is expected. However, it will need to break the resistance on the 45 minute chart (average true range stop) and then retest it before it will continue up.
On the Canadian Dollar we have long volume divergence on both the 720 and 1440 charts. The 45 minute has already broken through the resistance (average true range stop) and should retest the .7833 area. This will be a key area to watch today.
It is amazing how much information we can glean just from the Multicharts Scanner for Futures!