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Futures

Blue Line Futures - Grain Express


Corn (March)

Yesterday’s Close:  March corn futures finished yesterday’s session up 6 ½ cents, trading in a range of 7 ¾ cents.  Funds were estimated buyers of 23,000 contracts on the day.

Fundamentals:  Corn futures worked higher on continued dry conditions in Brazil, raising concerns regarding potential production.  Rumors that US and China were taking steps in the right direction also surfaced, something we have been writing about anticipating in the soybean section all week.  We are still awaiting substance but expect to see additional positive news in the near future.

Technicals:  We always talk about volume confirming price, yesterday was a perfect example of that.  It was a slow day, volume came in to the buy side, this is when you buy.  Don’t wait for the headline, that’s when you sell/reduce.  Hence the old phrase: buy the rumor, sell the news.  On the technical side of things, there is....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

 

Soybeans (March)

Yesterday’s Close:  March soybean futures finished yesterday’s session up 12 ¼ cents, trading in a range of 17 ¾ cents.  Funds were estimated buyers of 10,000 contracts on the day.

Fundamentals:  Soybeans caught a big bid yesterday afternoon for “no apparent reason”, which was assumed to be rumors regarding trade with China, confirmed by news outlets a few hours after.  We have been writing about the anticipation of headlines all week, they came sooner than we would have expected but it doesn’t change the mindset when it comes to trading.  We knew there was a meeting scheduled, you need to anticipate headlines.  With this administration, there is an emphasis on positive headlines regarding trade. 

Technicals:  The market has been trading very....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

 

Wheat (March)

Yesterday’s Close:  March wheat futures finished yesterday’s session up 6 cents, trading in a range of 13 ½ cents.  Funds were estimated buyers of 6,000 contracts on the day. 

Fundamentals:  Wheat managed to rebound with some conviction yesterday, on the back of positive momentum in the corn and bean pits.  Wheat trades best when it is in tandem with corn and beans, if we can see follow through in today’s session, we may have a technical breakout looming (see technicals below).

Technicals:  Wheat is right back towards the....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

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Futures trading involves substantial risk of loss and may not be suitable for all investors. 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.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Oliver Sloup is Vice President of Blue Line Futures. Oliver has been a guest on CNBC and Bloomberg, among others. Oliver has over a decade of trading experience. Prior to Blue Line Futures, Oliver worked as the Director of Managed Futures at iiTRADER.

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology.

You can email us at info@BlueLineFutures.com or call 312-278-0500

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Blue Line Futures and is being posted with Blue Line Futures' permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


22379




Futures

FX Rundown - Blue Line Futures


Euro (March)

Fundamentals: The Euro has softened over the last two sessions but more in a consolidatory manner. This morning ECB hawk Lautenschlaeger said that slower growth and soft inflation was expected and is not enough to dent the anticipation of a rate hike later this year. She added that she will wait for projections in March before changing her view. We cannot blame her; the data has been soft but three is needed for a trend. On the U.S front, a slimmer economic calendar this week due to the government shutdown postponed Retail Sales and housing data yesterday. Today, Philly Fed Manufacturing unexpectedly bounced back strongly and broke the softer trend from ISMs and NY Empire State Manufacturing. Tomorrow, NY Fed President Williams speaks at 8:05 am CT and a crucial read on Michigan Consumer data comes at 9:00 am CT.

Technicals: The Euro is not testing the trend line from the November 12th low in the front-month only chart but instead a secondary trend line from the December 11th low that can be drawn with the expiring December contract on that date. Confirming the validity of this trend line is a similar one in the Dollar Index March-only chart with resistance coming at today’s high. For the Euro it comes in at 1.1420 and aligns with first key support from our report Tuesday at 1.1438. Buyers at this level can find comfort knowing that major three-star support is just below, it aligns with the trend line from that front-month November 12th low as well as the March low on the same date. We remain Bullish in Bias as we see intermediate and long-term value at this level. A move out above major three-star resistance should fund a further tailwind.

Bias: Bullish/Neutral

Resistance: 1.1504***, 1.1550-1.1553**, 1.1596-1.16325**, 1.1754***

Support: 1.1420-1.1438**, 1.1353-1.1390***, 1.1245***

Please sign up for a free trial of our research at Blue Line Futures to get 1 or all 4 of our daily reports.

 

Yen (March)

Fundamentals: The Yen has trended lower for three days now as equity markets turn their tires higher. Strong earnings from banks this week, a Brexit deadline assumed to be kicked down the road and news today that the White House is giving-in on the China tariffs have all weighed significantly on the Yen this week. Tonight, Japan National CPI is due at 5:30 pm CT and Industrial Production is due at 10:30 pm CT.

Technicals: The Yen closed below major three-star support at .9210-.9224, therefore, we must begin neutralizing our Bullish Bias. This was the gap from the January 2nd close and the breakout in the following session. Support still comes in below at .9140-.9162 and a check off this level and recovery can still remain constructive, however, longs must tread cautiously.

Bias: Neutral/Bullish

Resistance: .9310-.9326**, .9400-.9410***

Pivot: .9210-.9232

Support: .9140-.9162**, .90785-9091**, .9037**, .8998.9002***

Please sign up for a free trial of our research at Blue Line Futures to get 1 or all 4 of our daily reports.   

 

Aussie (March)

Fundamentals: The Aussie was trading on soft footing through the day with the U.S Dollar holding ground to higher and after news that a bipartisan group of lawmakers in Washington introduced a bill that would ban the sale of U.S chips and other components to Chinese companies that violate export control laws such as Huawei and ZTE. Remember, China is Australia’s number one trade partner and the Aussie has kept a pulse on U.S and China trade relations. So, when it was reported late this afternoon that the U.S is weighing lifting the trade tariffs on China, the Aussie ripped higher. These reports were denied by the Treasury and the U.S Trade Rep’s office but the currency was able to cling to a small gain on the electronic session. Aussie Home Loans data contracted last night but better than expected. Tonight, we look to New Home Sales.

Technicals: Price action is overextended and faces major three-star resistance overhead at .7254-.7278. While we have recently had a Bullish Bias, given such overhead, we are more Neutral currently. Still, the bulls have a clear upper hand above our pivot at .7178-.7186. We maintain that value for a buy opportunity does not come in until lower at .7118-.7132.

Bias: Neutral/Bullish

Resistance: .7254-.7278***, .7407****

Pivot: .7178-.7186

Support: .7118-.7132**, .7036-.7050***, .6809****

Please sign up for a free trial of our research at Blue Line Futures to get 1 or all 4 of our daily reports.   

 

Canadian (March)

Fundamentals: Despite a robust risk-sentiment today, the Canadian slipped after ADP Payrolls showed a decrease in jobs, the first since August. The Canadian has rallied strongly to start the year seeing a tailwind from the trade landscape, a bounce in equity markets and most importantly a recovery in the energy bloodbath. However, this move has exhausted itself and we prefer to tread cautiously until it comes in. Price action did respond to the reported comments on U.S tariffs on China, but the tape slipped ahead of the electronic close on a denial.

Technicals: All in all, price action has held the pivot level of .7536 and this leaves the bulls with the upper hand. On the bright side, today’s low was .75185 which was nearly a direct test to major three-star support at .7497. The tape responded off this low and remains constructive.

Bias: Neutral/Bullish

Resistance: .7588-.7615***, .7649**

Pivot: .7536

Support: .7497***, .7452-.7465**, .7330-.7383***, .72535***

Please sign up for a free trial of our research at Blue Line Futures to get 1 or all 4 of our daily reports. 

 

Futures trading involves substantial risk of loss and may not be suitable for all investors. 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.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Bill Baruch is President and founder of Blue Line Futures. Bill has more than a decade of trading experience. Working with clients he focuses on developing trading strategies that present a clear objective for both long and short-term trading approaches. He believes that in order to properly execute a trading strategy, there must be a well-balanced approach to risk and reward.

Prior to Blue Line, Bill was the Chief Market Strategist at iiTRADER which followed running a trade desk at Lind Waldock and MF Global.

Bill is a featured expert on CNBC, Bloomberg and the Wall Street Journal as well as other top tier publications. 

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology. 

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Blue Line Futures and is being posted with Blue Line Futures’ permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and IBKR is not endorsing or recommending any investment or trading discussed in this material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


22372




Futures

Blue Line Futures - Grain Express


Corn (March)

Yesterday’s Close:  March corn futures finished yesterday’s session down 7 ½ cents, trading in a range of 10 cents.  Funds were estimated sellers of 20,000 contracts on the day.

Fundamentals:  Corn futures broke down yesterday, triggering a wave of technical selling.  As far as the headlines go, there wasn’t anything substantive over the last 24-hours.  The weekly EIA ethanol report will be out at 9:30 am cst.  We are cautiously optimistic on prices going into today’s session.

Technicals:  The breakdown below 375-378 opened the door for a round down to our 4-star support pocket which we defined as 371 ¾-372 ½ (low was 371 ¾).  We are....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

Soybeans (March)

Yesterday’s Close:  March soybean futures finished yesterday’s session down 9 ¾ cents, trading in a range of 15 ½ cents.  Funds were estimated sellers of 7,500 contracts on the day.

Fundamentals:  Soybeans continued to work lower yesterday on lack of friendly news.  In yesterday’s report we said: “We would not be surprised to see the market drift lower/chop sideways for the remainder of the week.  As we start getting closer to the meeting between US and China trade officials at the end of the month, we would look for a premium to work back into the market.”.  Our thoughts remain the same this morning but looking for the market to hold a little better now on technical support (see technicals below).

Technicals:  The market....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

Wheat (March)

Yesterday’s Close:  March wheat futures finished yesterday’s session down 3 ¼ cents, trading in a range of 10 ¼ cents.  Funds were estimated sellers of 4,000 contracts on the day.

Fundamentals:  Wheat futures softened yesterday, but for the most part held well considering the carnage in the corn and bean pits.  We believe yesterday’s pressure was a lot of spillover from corn and beans, with little to do with a bearish fundamental change.

Technicals:  The market broke below technical support at 510 yesterday but managed to reclaim that into the close.  We....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

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Futures trading involves substantial risk of loss and may not be suitable for all investors. 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.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Oliver Sloup is Vice President of Blue Line Futures. Oliver has been a guest on CNBC and Bloomberg, among others. Oliver has over a decade of trading experience. Prior to Blue Line Futures, Oliver worked as the Director of Managed Futures at iiTRADER.

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology.

You can email us at info@BlueLineFutures.com or call 312-278-0500

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Blue Line Futures and is being posted with Blue Line Futures' permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


22348




Futures

FX Rundown - Blue Line Futures (01.16.2019)


Euro (March)

Session close: Settled at 1.14605, down 66 ticks

Fundamentals: The Euro got run over by the one-two punch of Draghi and Brexit. The British Pound fell as much as 2 cents today through the U.K’s Parliamentary vote on Prime Minister May’s deal and potential ousting before paring all loses but left the Euro high and dry. This was because ECB President Mario Draghi left a sour taste after pointing to recent economic weakness due to the China slowdown, international trade headwinds, Brexit and the U.S tightening policy. The recent data is undeniable with Factory Orders, Industrial Production and PMIs all missing. The weakness is seen to slow down any potential tightening the ECB was considering for later this year.

On the flip side, the Dollar had a strong day but not because of Dollar strength. In fact, NY Empire State Manufacturing grew at the slowest pace since May 2017 and PPI came in soft. Furthermore, Kansas City Fed President George who is/was known as the most hawkish member of the Fed said, “it might be a good time for the Fed to pause normalizing”. All in all, the Dollar rallied today, but we do not see this move holding ground.

Technicals: Today’s session low was 1.1441, and we now have first key support at ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels. 

 

 

Yen (March)

Session close: Settled at .92555, down 32.5 ticks

Fundamentals: The S&P reached the highest level since December 17th and major benchmarks in Asia, including the Nikkei futures gained as much as 2%. The Yen took a swift risk-on kick last night and into this morning after China announced additional stimulus measures through a large-scale tax cut. This is not a favorable environment for the Yen but additionally given the British Pound back to unchanged and Crude Oil up 3%, everything went right for risk assets today. The next 24-48 hours will be crucial for the Yen as it tests a key technical level discussed below; if risk-assets do not continue on this path, the Yen can still have a very healthy week. Tonight, Machinery Orders data and Tertiary Industrial Activity is due from Japan at 5:50 pm and 10:30 pm CT.

Technicals: We trust the process and our line in the sand major three-star support comes in at .... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels. 

 

 

Aussie (March)

Session close: Settled at .7200, down 6 ticks

Fundamentals: The Aussie is showing signs of exhaustion after a tremendous run since its January 3rd reversal. This can be seen through the failure to move higher and hold higher after favorable news from China last night. Furthermore, equity markets around the globe gained ground. The U.S Dollar strengthened but not in a broad fashion. Overall, we see today’s move in the U.S Dollar as short-lived strength. Our rhetoric from yesterday remains, we like the Aussie but from a better location. Westpac Consumer Sentiment is due tonight at 5:30 pm CT.

Technicals: We are closely watching our pivot at .... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels. 

 

 

Canadian (March)

Session close: Settled at .75405, down 8 ticks

Fundamentals: Similar to the Aussie, the Canadian is showing signs of exhaustion. The U.S Dollar was not broadly strong today, data missed and the most hawkish Fed member, a 2019 voter, called for a pause in hikes. Furthermore, Crude Oil gained 3% and the Canadian lost ground. Traders showed be patient and let this rally breathe.

Technicals: Today was a higher low and the bulls have the clear upper-hand above .... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels. 

 

 

 

Futures trading involves substantial risk of loss and may not be suitable for all investors. 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.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Bill Baruch is President and founder of Blue Line Futures. Bill has more than a decade of trading experience. Working with clients he focuses on developing trading strategies that present a clear objective for both long and short-term trading approaches. He believes that in order to properly execute a trading strategy, there must be a well-balanced approach to risk and reward.

Prior to Blue Line, Bill was the Chief Market Strategist at iiTRADER which followed running a trade desk at Lind Waldock and MF Global.

Bill is a featured expert on CNBC, Bloomberg and the Wall Street Journal as well as other top tier publications. 

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology. 

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Blue Line Futures and is being posted with Blue Line Futures’ permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and IBKR is not endorsing or recommending any investment or trading discussed in this material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


22340




Futures

FX Rundown - Blue Line Futures (01.15.2019)


Euro (March)

Session close: Settled at 1.15265, down 0.5 a tick

Fundamentals: The Euro is finishing a quiet session unchanged. Risk-sentiment soured a bit to start the week after China’s trade data and Eurozone Industrial Production both whiffed. Tomorrow, U.K Prime Minister May’s Brexit deal goes to a Parliamentary vote. It is widely expected to get shot down, but markets have found comfort in pricing in an extension of the March deadline. The U.S government shutdown is in its fourth week and this slims out the economic calendar. However, tomorrow we get PPI and NY Empire State Manufacturing as well as Fed speak from Kashkari, George and Kaplan. ECB President Mario Draghi is expected to speak at 9:00 am CT. Today, Janet Yellen went on record saying the Fed could have made its last rate hike of this cycle in December. This all explains the 30-tick wide range today.

Technicals: Price action remains upbeat but could not hold out above major three-star resistance on a closing basis. Today’s dip held first key support at ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

Yen (March)

Session close: Settled at .9288, up 25 ticks

Fundamentals: Equity markets gaped lower on the open last night and the Yen responded by trading higher. It found a further tailwind in an otherwise quiet session after the latest trade figures from China whiffed with Imports -7.6% YoY versus +5.0% expected and Exports -4.4% YoY versus +3.0% expected. China’s trade surplus with the U.S also widened to $323 billion. With risk-assets bouncing back at the onset of U.S hours, the Yen rally dissipated but price action remained constructive. If equity markets attempt to dig lower once again overnight, look for the Yen to find a path of least resistance back near previous highs.

Technicals: The Yen’s technical pattern remains extremely constructive. Last week, it covered the gap from January 3rd reopen minor pullbacks since have been defended by the bulls. First key resistance at ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

Aussie (March)

Session close: Settled at .7206, up 8 ticks

Fundamentals: Given the China Trade Balance headlines, this was a good session for the Aussie. The currency is up 2.2% in January and the Chinese Yuan has gained 1.6% against the Dollar over the same period; this is not a coincidence. The Australian data has not particularly been something to write home about over this time with Trade Balance coming in soft and Building Approvals the appearance of a horror flick (-9.1% versus -0.3% expected) last week. However, Retail Sales did beat. While we do believe that risk-sentiment in equity markets have reached a near-term exhaustion, the Chinese Yuan has further to gain. This should be favorable for the Aussie, but traders should trek cautiously in the near-term after such a run.

Technicals: Price action finally achieved major three-star resistance on Friday but has begun to come back in a bit since. Our momentum indicator now aligns with ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

Canadian (March)

Session close: Settled at .75485, up 1.5 ticks

Fundamentals: Overall risk-sentiment on the heels of China data and a weaker energy complex weighed on the Canadian today. The currency has had heck of a recovery through the first two weeks of the year and taking a breather for 48 trading hours is almost expected and traders should tread cautiously as until it comes in a bit more. With nothing from Canada on the calendar tomorrow, U.S data and Fed speak will be the focal point.

Technicals: Price action hit major three-star resistance head-on last Wednesday and traded to a lower high on Friday. This has encouraged a wave of profit taking but the bulls will hold the clear upper-hand with price action above ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

 

Futures trading involves substantial risk of loss and may not be suitable for all investors. 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.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Bill Baruch is President and founder of Blue Line Futures. Bill has more than a decade of trading experience. Working with clients he focuses on developing trading strategies that present a clear objective for both long and short-term trading approaches. He believes that in order to properly execute a trading strategy, there must be a well-balanced approach to risk and reward.

Prior to Blue Line, Bill was the Chief Market Strategist at iiTRADER which followed running a trade desk at Lind Waldock and MF Global.

Bill is a featured expert on CNBC, Bloomberg and the Wall Street Journal as well as other top tier publications. 

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology. 

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Blue Line Futures and is being posted with Blue Line Futures’ permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and IBKR is not endorsing or recommending any investment or trading discussed in this material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


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Disclosures

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The material (including articles and commentary) provided on IB Traders' Insight is offered for informational purposes only. The posted material is NOT a recommendation by Interactive Brokers (IB) that you or your clients should contract for the services of or invest with any of the independent advisors or hedge funds or others who may post on IB Traders' Insight or invest with any advisors or hedge funds. The advisors, hedge funds and other analysts who may post on IB Traders' Insight are independent of IB and IB does not make any representations or warranties concerning the past or future performance of these advisors, hedge funds and others or the accuracy of the information they provide. Interactive Brokers does not conduct a "suitability review" to make sure the trading of any advisor or hedge fund or other party is suitable for you.

Securities or other financial instruments mentioned in the material posted are not suitable for all investors. The material posted does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before making any investment or trade, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice. Past performance is no guarantee of future results.

Any information provided by third parties has been obtained from sources believed to be reliable and accurate; however, IB does not warrant its accuracy and assumes no responsibility for any errors or omissions.

Any information posted by employees of IB or an affiliated company is based upon information that is believed to be reliable. However, neither IB nor its affiliates warrant its completeness, accuracy or adequacy. IB does not make any representations or warranties concerning the past or future performance of any financial instrument. By posting material on IB Traders' Insight, IB is not representing that any particular financial instrument or trading strategy is appropriate for you.