Financial markets weekly overview for November 27 – December 3

Financial markets weekly overview for November 27 – December 3

Next CFTC reports will be released on November 27th. In this regard, today our review will be based only on horizontal levels and technical analysis.

Key topics

E-Mini S&P500 (ESZ17)

The trend is bullish and the impulse wave develops on the Daily timeframe. A pullback buying opportunity on the Daily timeframe will be formed after the correction formation. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of November 15-16.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

E-Mini S&P500 (ESZ17). Technical analysis and COT net position indicator.

Dollar Index (DXY)

American Dollar remains in downtrend and the impulse wave develops on the Daily timeframe. A pullback selling opportunity on the Daily timeframe will be formed after thr correction formation and at the same time price movement is very active that’s why the reliable market entry is also possible on smaller timeframes. Short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of November 20-22.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

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

Euro (EURUSD)

Dollar is actively falling and EURUSD currency pair is rising. The Daily trend is bullish and another correction came to an end last week and the impulse wave develops. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of November 20-22.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

EURUSD. Technical analysis and COT net position indicator.

Swiss Franc (USDCHF)

USDCHF currency pair remains in the medium-term bearish trend and the impulse wave develops. USDCHF short positions will remain relevant until the market is below the nearest resistance level, the highs of November 16-22. The next target is around the price mark of 0.9730.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

CHFUSD. Technical analysis and COT net position indicator.

British Pound (GBPUSD)

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 on the Daily timeframe will appear after the correction formation.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

GBPUSD. Technical analysis and COT net position indicator.

Japanese Yen (USDJPY)

USDJPY currency pair remains in the medium-term downtrend and the impulse wave develops. USDJPY short positions will remain relevant until the market is below the nearest resistance level, the highs of November 10-14. A pullback selling opportunity will appear after the correction formation on the Daily timeframe.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

JPYUSD. Technical analysis and COT net position indicator.

WTI Crude Oil (CLF18)

The oil market remains in the medium-term uptrend and the impulse wave develops. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of November 14-17. A pullback buying opportunity on the Daily timeframe will appear after another correction formation.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

WTI (CLF18). Technical analysis and COT net position indicator.

Canadian Dollar (USDCAD)

The trend is bullish (for USDCAD), the market is in the correction. The price is around the support level on the Daily timeframe. USDCAD pullback buying opportunity from this level will most likely appear within next week or it will be broken, the trend will change and USDCAD breakout selling opportunity will be formed.

USDCAD long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of November 9-13. The next target is around the price mark of 0.775

Financial markets weekly overview. Trade list and COT CFTC reports analysis

CADUSD. Technical analysis and COT net position indicator.

Gold (XAUUSD)

The Daily trend is bullish, the correction came to an end last week and the impulse wave develops. Long positions will remain relevant until the market is above the nearest support level, the lows of November 17-21. The next target is around the price mark of $1305 per troy ounce.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

Gold. Technical analysis and COT net position indicator.

Silver (XAGUSD)

The silver market remains in the medium-term uptrend and the impulse wave develops. Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of November 20-21. The next target is $17.40

Financial markets weekly overview. Trade list and COT CFTC reports analysis

Silver. Technical analysis and COT net position indicator.

Australian Dollar (AUDUSD)

The market remains in downtrend and the correction is formed on the Daily timeframe. Short positions will remain relevant until the market is below the resistance level, the highs of November 8-10. The price is around the last broken level, in the near future the correction may come to an end and a pullback entry point may be formed.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

AUDUSD. Technical analysis and COT net position indicator.

New Zealand Dollar (NZDUSD)

The Daily trend is bearish and the correction wave is formed. A pullback signal may be formed on the Daily timeframe soon. Short positions will remain relevant until the market is below the resistance level, the highs of November 8-10.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

NZDUSD. Technical analysis and COT net position indicator.

Russian rouble (USDRUB)

USDRUB currency pair broke through the support level on the Daily timeframe on Wednesday, the trend is bearish now and the impulse wave develops. USDRUB short positions will remain relevant until the market is below the nearest resistance level on the Daily timeframe, the highs of November 14-16.

Financial markets weekly overview. Trade list and COT CFTC reports analysis

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 AUDUSD.

In the near future USDJPY, GBPUSD, NZDUSD, USDCNH, CHFJPY 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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