Financial markets weekly overview for June 11 – 15

Financial markets weekly overview for June 11 – 15

The actual financial market overview based on CFTC:
Financial markets weekly overview for November 12 – 16.

To improve your trading system with the help of COT commission reports, watch the online course «Trading with professionals: CFTC reports for private traders».

We make up a weekly medium-term trade list based on CFTC reports and technical analysis.

The overview provides a description of the technical condition of the market on the most popular financial instruments, as well as information on the large speculators’ actions according to the last COT reports and the previous period.

If you want to use CFTC reports in your trading practice, you should understand that for an objective assessment of the situation it’s not enough to know the data of the last report. The dynamic is more important, in other words, comparing the statistics of large speculators’ actions in the current period with the previous one, so we mention both values.

Key topics

Trade list for the current week

AssetsComments1.
06
8.
06
**E-Mini
S&P500 (ESM18)
The resistance level was broken on the Daily timeframe on Tuesday, the trend is bullish now and the impulse wave develops. A pullback buying opportunity will appear after the correction formation on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 - 30.
***Dollar Index (DXU18)The market remains in the uptrend and the correction wave develops. A pullback buying opportunity will appear after the correction completion on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 11 - 15.
**EUR (E6U18)The resistance level was broken on the Daily timeframe on Wednesday, the trend is bullish now and the impulse wave develops. A pullback buying opportunity will appear after the correction formation on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 - 30.
**CHF (S6U18)USDCHF currency pair remains in the downtrend and the impulse wave develops. A pullback selling opportunity will appear after the correction formation on the Daily timeframe. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of May 15 - 18.
**GBP (B6U18)GBPUSD currency pair remains in the downtrend, the correction came to an end last week and the pullback selling opportunity was formed. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of June 7 - 8.
**JPY (J6U18)USDJPY currency pair remains in the downtrend, the correction came to an end last week and the pullback selling opportunity was formed. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of June 6 - 8.
***WTI (CLN18)The market remains in the downtrend and the correction wave develops. A pullback selling opportunity will appear after the correction completion on the Daily timeframe. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of May 30 - June 1.
**CAD (D6U18)USDCAD currency pair remains in the uptrend and the correction wave develops. A pullback buying opportunity will appear after the correction completion on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 30 - June 5.
**XAU (GCQ18)The market remains in the downtrend and the correction wave develops. A pullback selling opportunity will appear after its completion. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of May 29 - June 1.
***XAG (SIN18)The resistance level was broken on the Daily timeframe on Thursday, the trend is bullish now and the impulse wave develops. A pullback buying opportunity will appear after the correction formation on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 - 30.
***AUD (A6U18)AUDUSD currency pair remains in the uptrend. Another high was broken on the Daily timeframe last week and the correction wave develops. A pullback buying opportunity will appear after its completion. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 - 30.
***NZD (N6U18)NZDUSD currency pair remains in the uptrend and the impulse wave develops. A pullback buying opportunity will appear after the correction formation on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 - 30.
*RUB
(R6U18)
USDRUB currency pair remains in the uptrend. The correction came to an end last week and the pullback buying opportunity was formed. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of June 6 - 8.
The notation that determines the quality of possible trades during the new week are profit potential, the risk-reward ratio, the opinion of major market players, other factors:
****Excellent
***Good
**Ordinary
*Uninteresting (sideways trends, etc.)
The notation that determines the change in the opinion of large speculators, the direction of COT net position indicator in the reporting and prior periods are:
large speculators are buying the asset specified in the first column
large speculators are selling the asset specified in the first column
the green color of the arrows means that the Daily trend direction corresponds to the opinion of large speculators
the blue color of the arrows means that the Daily trend direction doesn’t correspond to the opinion of large speculators

If you want to get more information on the pullback trading tactics and other aspects of trading in the market, watch the «Horizontal levels in trading» video course.

E-Mini S&P500 (ESM18)

The resistance level was broken on the Daily timeframe on Tuesday, the trend is bullish now and the impulse wave develops. A pullback buying opportunity will appear after the correction formation on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 – 30.

COT indicator increased but didn’t reverse. CFTC reports indicate that large speculators go on selling and the professionals’ opinion doesn’t correspond to the market technical picture and it makes sense to reduce the position size when an entry point appears in the trend direction.

Financial markets weekly overview for June 11 - 15

E-Mini S&P500 (ESM18). Technical analysis and COT net position indicator.

Dollar Index (DXY)

The market remains in the uptrend and the correction wave develops. A pullback buying opportunity will appear after the correction completion on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 11 – 15.

COT indicator increases. CFTC reports indicate that large speculators are buying the dollar, hedgers are selling and the professionals’ opinion corresponds to the Daily trend direction.

Financial markets weekly overview for June 11 - 15

Dollar Index (DXY). Technical analysis and COT net position indicator.

Euro (EURUSD)

The resistance level was broken on the Daily timeframe on Wednesday, the trend is bullish now and the impulse wave develops. A pullback buying opportunity will appear after the correction formation on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 – 30.

COT indicator decreases. Large speculators go on selling Euro and the professionals’ opinion doesn’t correspond to the market technical picture and it makes sense to reduce the position size when an entry point appears in the trend direction.

Financial markets weekly overview for June 11 - 15

EURUSD. Technical analysis and COT net position indicator.

Swiss Franc (USDCHF)

USDCHF currency pair remains in the downtrend and the impulse wave develops. A pullback selling opportunity will appear after the correction formation on the Daily timeframe. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of May 15 – 18.

COT indicator increased but didn’t reverse, large speculators are selling franc and the professionals’ opinion doesn’t correspond to the Daily trend direction and it makes sense to reduce the position size when an entry point appears in the trend direction.

Financial markets weekly overview for June 11 - 15

CHFUSD. Technical analysis and COT net position indicator.

British Pound (GBPUSD)

GBPUSD currency pair remains in the downtrend, the correction came to an end last week and the pullback selling opportunity was formed. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of June 7 – 8.

COT indicator decreased but didn’t reverse. CFTC reports indicate that large speculators are buying Pound and the professionals’ opinion doesn’t correspond to the Daily trend direction and it makes sense to reduce the position size when an entry point appears in the trend direction.

Financial markets weekly overview for June 11 - 15

GBPUSD. Technical analysis and COT net position indicator.

Japanese Yen (USDJPY)

USDJPY currency pair remains in the downtrend, the correction came to an end last week and the pullback selling opportunity was formed. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of June 6 – 8.

COT indicator increased but didn’t reverse, large speculators are selling Yen and the professionals’ opinion doesn’t correspond to the Daily trend direction and it makes sense to reduce the position size when an entry point appears in the trend direction.

Financial markets weekly overview for June 11 - 15

JPYUSD. Technical analysis and COT net position indicator.

WTI Crude Oil (CLN18)

The market remains in the downtrend and the correction wave develops. A pullback selling opportunity will appear after the correction completion on the Daily timeframe. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of May 30 – June 1.

COT net position indicator decreases. Large speculators are selling oil. Professionals’ opinion corresponds to the Daily trend direction.

Financial markets weekly overview for June 11 - 15

WTI Crude Oil (CLN18). Technical analysis and COT net position indicator.

Canadian Dollar (USDCAD)

USDCAD currency pair remains in the uptrend and the correction wave develops. A pullback buying opportunity will appear after the correction completion on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 30 – June 5.

COT indicator decreased but didn’t reverse. CFTC reports indicate that large speculators are buying the Canadian dollar and hedgers are selling and the professionals’ opinion doesn’t correspond to the market technical picture and it makes sense to reduce the position size when an entry point appears in the trend direction.

Financial markets weekly overview for June 11 - 15

CADUSD. Technical analysis and COT net position indicator.

Gold (XAUUSD)

The market remains in the downtrend and the correction wave develops. A pullback selling opportunity will appear after its completion. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of May 29 – June 1.

COT indicator decreased but didn’t reverse. Large speculators are buying gold and the professionals’ opinion doesn’t correspond to the technical picture and it makes sense to reduce the position size when an entry point appears in the trend direction.

Financial markets weekly overview for June 11 - 15

Gold (GCQ18). Technical analysis and COT net position indicator.

Silver (XAGUSD)

The resistance level was broken on the Daily timeframe on Thursday, the trend is bullish now and the impulse wave develops. A pullback buying opportunity will appear after the correction formation on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 – 30.

COT indicator increases. At the same time, CFTC reports indicate that large speculators are buying and hedgers are selling and the professionals’ opinion corresponds to the technical picture.

Financial markets weekly overview for June 11 - 15

Silver (SIN18). Technical analysis and COT net position indicator.

Australian Dollar (AUDUSD)

AUDUSD currency pair remains in the uptrend. Another high was broken on the Daily timeframe last week and the correction wave develops. A pullback buying opportunity will appear after its completion. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 – 30.

COT net position indicator reversed. Large speculators began to buy and hedgers are selling. Professionals’ opinion corresponds to the Daily trend direction.

Financial markets weekly overview for June 11 - 15

AUDUSD. Technical analysis and COT net position indicator.

New Zealand Dollar (NZDUSD)

NZDUSD currency pair remains in the uptrend and the impulse wave develops. A pullback buying opportunity will appear after the correction formation on the Daily timeframe. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of May 29 – 30.

COT indicator reversed. CFTC reports indicate that large speculators began to buy and the professionals’ opinion corresponds to the market technical picture.

Financial markets weekly overview for June 11 - 15

NZDUSD. Technical analysis and COT net position indicator.

Russian rouble (USDRUB)

USDRUB currency pair remains in the uptrend. The correction came to an end last week and the pullback buying opportunity was formed. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of June 6 – 8.

COT indicator increases, large speculators are buying rouble and the professionals’ opinion doesn’t correspond to the Daily trend direction.

Financial markets weekly overview for June 11 - 15

RUBUSD. Technical analysis and COT net position indicator.

Conclusions

In terms of medium-term trading, financial instruments with the correction close to completion on the Daily timeframe and with potentially the most promising risk-reward ratio are Dollar Index, GBPUSD and EURAUD.

In the near future AUDUSD, NZDUSD and EURUSD can become noteworthy depending on the market correction depth.

Other financial instruments in the trade list may be also interesting, but in these markets pullback signals on the Daily timeframe are likely to occur no earlier than a week.

More information on the topic:

Good luck in trading!

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