It’s a critical week for the U.S. Dollar

Research Posts FX Rundown

/ by nawadblueline | Leave a comment

It will be a data-driven week loaded with market-moving data and the Federal Reserve meeting on Wednesday.

Australian Dollar

Technicals (December)

Australian Dollar futures continue to trade between 0.63000 and 0.65000. Futures have been in a Bearish trend since August 1 at 0.66400 and need to rally to 0.64480 to Neutralize the current Bearish Trend. 

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 0.64480**, 0.65530**, 0.67630***

Pivot: 0.64130 (50 DMA)

Support: 0.63500-0.63000** (Contract lows)

British Pound

Technicals (December)

The British Pound has stabilized into a sideways trend with 1.2000 on the downside and 1.2463 (200 DMA) on the upside. Futures have been in a Bearish trend since August 14 at 1.2678 and need to rally to 1.2322 to Neutralize the current Bearish Trend. 

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 1.2322**, 1.2446***,1.2680**, 1.3000*** 

Pivot: 1.2250

Support: 1.2050-1.2000*** (New contract lows)

Canadian Dollar

Technicals (December)

Canadian Dollar futures flipped to a bearish trend on October 2 at 0.73220, where only a close over 0.73675 would take the market back to a Neutral Trend. 

The 200 DMA is 0.73550 and will act as a new resistance point. 

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 0.74045**, 0.74500**, 0.76000***

Pivot: 0.73550

Support: 0.72250-0.72000**

Euro Currency

Technicals (December)

The Euro Currency has been in a Bearish trend since August 14 at 1.09700 and would need a close back above 1.07070 to Neutralize the existing trend. The 50 DMA will also act as strong resistance at 1.06950.

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 1.08590**, 1.09340**, 1.11000***

Pivot: 1.06950 (50 DMA)

Support: 1.05000**-1.04500**

Japanese Yen

Technicals (December)

Japanese Yen futures have been in a Bearish trend since August 1 at 0.712650 and would need a close over 0.680250 to Neutralize the existing Bearish trend. 

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 0.700560**, 0.725000***

Pivot: 0.680250

Support: 0.673000***

Swiss Franc

Technicals (December)

The Swiss Franc has been in a Bullish trend since October 20 at 1.12785 and needs to see continued follow-through to keep the trend alive. Watch 1.10810 as your trend reversal point. 

Bias: Bullish/Neutral

Previous Session Bias: Bullish/Neutral

Resistance: 1.13240**, 1.14940**, 1.15000***

Pivot: 1.10810

Support: 1.10000***

U.S. Dollar

Technicals (December)

The U.S. Dollar flipped to a Neutral Trend on October 23 and would need to close above 106.54 to trigger a Bullish trend or close below 105.16 to trigger a Bearish trend.

Bias: Neutral

Previous Session Bias: Neutral

Resistance: 106.54** 107.00-107.50***

Pivot: 105.16

Support: 104.86**, 103.65**, 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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