FX Rundown (week of 9/11)

Research Posts FX Rundown

/ by nawadblueline | Leave a comment

The Japanese Yen rallied 1% as the Bank of Japan discussed strategies to end negative interest rates.

Australian Dollar

Technicals (September)

Australian Dollar futures surged overnight after the BOJ signaled a possible end to negative interest rates. Futures have been in a Bearish trend since August 1 at 0.66190 and would need to rally to 0.65350 in order to Neutralize the current Bearish Trend. 

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 0.67630***

Pivot: 0.65350

Support: 0.64000-0.63500**

British PoundTechnicals (September)

The British Pound bounces off the 200 DMA. Futures have been in a Bearish trend since August 11 at 1.2701 and would need to rally to 1.2741 in order to Neutralize the current Bearish Trend.  Bias: Bearish/NeutralPrevious Session Bias: Bearish/Neutral Resistance: 1.3000*** Pivot: 1.2741Support: 12446**, 1.2412** (200 DMA)

Canadian Dollar

Technicals (September)

Canadian Dollar futures have been in a Bearish trend since August 2 at 

0.74975 would need to close over 0.74330 to neutralize the Bearish trend. The 200 DMA is at 0.74440 and will provide strong resistance. 

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 0.77015**,  0.76000***

Pivot: 0.74330

Support: 0.73500-0.73000**

Euro Currency

Technicals (September)

The Euro Currency has been in a Bearish trend since August 14 at 1.09225 and would need a close back above 1.09405 in order to Neutralize the existing trend. The 200 DMA will also act as strong resistance at 1.09050. 

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 1.11000***

Pivot: 1.09050

Support: 1.08000**

Japanese Yen

Technicals (September)

Japanese Yen futures have been in a Bearish trend since August 1 at 0.702450 and would need a close over 0.696628 in order to Neutralize the existing Bearish trend. 

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 0.725000***

Pivot: 0.700000

Support: 0.680000***

Swiss Franc

Technicals (September)

The Swiss Franc has been in a Bearish trend since August 24 at 1.13325 and would be a close over 1.14250 in order to Neutralize the existing downward trend. 

Bias: Bearish/Neutral

Previous Session Bias: Neutral

Resistance: 1.15000***

Pivot: 1.13820

Support: 1.13000** 1.12020-1.11640***

U.S. Dollar

Technicals (September)

The U.S. Dollar continues to push to new contract highs on global economic weakness. The U.S. Dollar has been in a Bullish trend since August 11 at 102.68 and only a close under 103.43 would take it back to a Neutral trend. 

Bias: Bullish/Neutral

Previous Session Bias: Bullish/Neutral

Resistance: 104.00***

Pivot: 103.43

Support: 101.00***

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Futures trading involves 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 identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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