Financial markets weekly overview for February 18 – 22

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The actual financial market overview based on CFTC:
COT-based Markets Weekly Overview for October 10 – 16.

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We make up a weekly medium-term trade list based on technical analysis. The overview provides a description of the technical condition of the market on the most popular financial instruments.

COT reports going forward from December 21, 2018, will be published in chronological order beginning with the report previously scheduled for release on Friday, December 28, 2018 (based on data from Monday, December 24, 2018). The CFTC published this report on Friday, February 1, 2019. After this, the CFTC expects to publish one report on Tuesday and another on Friday of each week until the reports are current as per the normal schedule.

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E-Mini S&P500 (ESH19)

The market remains in the uptrend and the impulse 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 February 7 – 12.

E-Mini S&P500 (ESH19). Technical analysis.

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 January 30 – February 1.

Dollar Index (DXY). Technical analysis.

Euro (EURUSD)

The market 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 February 12 – 13.

EURUSD. Technical analysis.

Swiss Franc (USDCHF)

USDCHF 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 (USDCHF) will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of February 8 – 11.

CHFUSD. Technical analysis.

British Pound (GBPUSD)

The support level was broken on the Daily timeframe on Thursday, the trend is bearish now 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 January 25 – 29.

GBPUSD. Technical analysis.

Japanese Yen (USDJPY)

USDJPY 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 (USDJPY) will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of February 7 – 11.

JPYUSD. Technical analysis.

WTI Crude Oil (CLJ19)

The market 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 February 7 – 12.

WTI Crude Oil (CLJ19). Technical analysis.

Canadian Dollar (USDCAD)

USDCAD currency pair remains in the uptrend. The correction came to an end last week and the pullback buying opportunity was formed. Long positions (USDCAD) will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of February 12 – 14.

CADUSD. Technical analysis.

Gold (XAUUSD)

Gold (GCJ19). Technical analysis.

Silver (XAGUSD)

The support level was broken on the Daily timeframe on Thursday, the trend is bearish now 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 February 8 – 11.

Silver (SIH19). Technical analysis.

Australian Dollar (AUDUSD)

AUDUSD currency pair 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 (AUDUSD) will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of January 31 – February 4.

AUDUSD. Technical analysis.

New Zealand Dollar (NZDUSD)

NZDUSD currency pair 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 (NZDUSD) will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of January 31 – February 6.

NZDUSD. Technical analysis.

Russian rouble (USDRUB)

The resistance level was broken on the Daily timeframe on Thursday, the trend (USDRUB) is bullish now and the correction wave develops. A pullback buying opportunity will appear after the correction completion on the Daily timeframe. Long positions (USDRUB) will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of February 8 – 14.

RUBUSD. Technical analysis.

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 NZDUSD, silver and EURUSD.

In the near future, USDJPY, GBPUSD and AUDUSD 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.