U.S. Dollar Continues Its Relentless Assault Higher

FX Rundown Research Posts

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Usage of the US Dollar in global payments has never been higher. Dollar transactions through the global Swift payment system rose to a record 46% in July.

Screenshot 2023-08-28 065253
Australian Dollar

Technicals (September)
Australian futures continue to slide despite attempts from the PBOC to stabilize their economy. Momentum studies slide back into oversold territory. Futures would need to rally to 0.66990 in order to Neutralize the current Bearish Trend. 
Bias: Bearish/Neutral
Previous Session Bias: Bearish/Neutral
Resistance: 0.67630***
Pivot: 0.65990
Support: 0.64000-0.63500**
Screenshot 2023-08-28 071159
British Pound

Technicals (September)
The British Pound continues to slide with little area of support.  Futures will need to close above 1.2842 in order to flip from a Bearish to a Neutral trend. Bias: Bearish/NeutralPrevious Session
Bias: Bearish/Neutral
Resistance: 1.3000*** 
Pivot: 1.2842
Support: 1.2525***, 1.2412** (200 DMA)
Screenshot 2023-08-28 071251
Canadian Dollar

Technicals (September)
Canadian Dollar futures continue to slide down to new contract lows. A close over the 200 DMA at 0.74530 is needed to rekindle some bullish momentum. Our Bear trend neutralizer remains at 0.74960.
Bias: Bearish/Neutral
Previous Session Bias: Bearish/Neutral
Resistance: 0.77015**,  0.76000***
Pivot: 0.74500
Support: 0.73500**
Screenshot 2023-08-28 071320
Euro Currency

Technicals (September)
The Euro broke its 200 DMA and continues to drift lower.  It would take a move back through 1.102230 to get back to Neutral.
Bias: Bearish/Neutral
Previous Session Bias: Bearish/Neutral
Resistance: 1.11000***
Pivot: 1.10000
Support: 1.08000**
Screenshot 2023-08-28 071353
Japanese Yen

Technicals (September)
Futures have been unable to draft any support with futures making a new contract low on Friday. Our trend neutralizer level remains at 0.706300. However, it would take a much larger move to 0.725000 in order to start a new up wave. 
Bias: Bearish/Neutral
Previous Session Bias: Bearish/Neutral
Resistance: 0.725000***
Pivot: 0.706300
Support: 0.685000***
Screenshot 2023-08-28 071421
Swiss FrancTechnicals (September)The Swiss Franc flipped to a Bearish Trend, however it is not crashing like many other currencies. Momentum studies have fallen back into oversold levels. Keep an eye on the 200 DMA at 1.12020 as your first major support level. 
Bias: Bearish/Neutral
Previous Session Bias: Neutral
Resistance: 1.15245***
Pivot: 1.13790
Support: 1.13000** 1.12020-1.11640***
Screenshot 2023-08-28 071501
U.S. Dollar
Technicals (September)
The U.S. Dollar continues its relentless move higher. Critical support remains at the 200 DMA at 102.55 and 102.00. It would take a move under 102.30 to shift to a Neutral trend and a move under 100.00 to shift to a Bearish trend. 
Bias: Bullish/Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 104.00***
Pivot: 102.30
Support: 101.00***
Screenshot 2023-08-28 071531
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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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