About Me

Name: Jim Wyckoff
Location: Iowa
Hobbies: Boating, Camping, Hiking, and anything else outdoors

I am a Senior Market Analyst for www.TradingEducation.com a FREE educational website. I have been involved with the stock, financial and futures markets for more than 20 years. I became a financial journalist with Futures World News for many years, where I covered every futures market traded in the United States at one time or another. Not long after I began my career in financial journalism, I began studying technical analysis. My extensive studies of technical analysis and knowledge of markets led to several positions, including chief technical analyst at several reputable companies.

You can also read additional FREE daily commentary at www.TradingEducation.com.

Post Calendar
September 2008
Sun Mon Tue Wed Thu Fri Sat
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30


Site Sponsor

Categories
 

Archives

Advertising

Interested in advertising on TraderBlog.com? Click here for more information.

Policies & Terms

The mission of my morning web log, or "blog" is to provide you with the very latest perspective and opinion on selected key markets. I will help you start your trading day by providing you with concise and valuable trading "nuggets" to help you in your daily trading plans.



« Markets Quiet in Early Dealings; CPI is Key | Main | U.S. Dollar Stronger in Early Trading »

U.S. Dollar Slightly Higher Early

CURRENCIES

The March U.S. dollar index is slightly firmer in early trading. Slow stochastics are bullish for today. The dollar index finds shorter-term technical resistance at the overnight high of 84.28 and then at 84.50. Shorter-term support is seen at the overnight low of 84.01 and then at Tuesday's low of 83.81. Wyckoff's Intra Day Market Rating: 4.0

The March Euro is slightly higher in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.3135 and then more stops just below support at 1.3100. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.3181 and then at Tuesday's high of 1.3207. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish early today. Wyckoff's Intra Day Market Rating: 6.0


METALS

Gold is slightly higher in early trading today, on a tepid bounce after big losses Tuesday. In April gold, shorter-term technical support is seen at Tuesday's low of $659.00 and then at $655.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the overnight high of $665.00 and then just above resistance at $670.00. Wyckoff's Intra-Day Market Rating: 5.0

CRUDE OIL

Crude oil prices are lower in early electronic dealings. Bulls are fading. In April crude, look for buy stops to reside just above resistance at $59.00 and then just above resistance at $59.50. Look for sell stops just below technical support at $58.00, and then more sell stops just below support at $57.50. Wyckoff's Intra-Day Market Rating: 4.0

GRAINS

Prices were mixed overnight. Corn and soybeans are still technically bullish, amid the specter of fresh fund buying coming into the market at any time. Soybeans have taken over the leadership role in the grain markets. Also, long-range weather forecasts for the Corn Belt planting and growing seasons are starting to be issued, and they are favoring the bullish side. But look for bouts of profit-taking pressure at these higher price levels. Wheat is still technically weaker at present, but bulls have gained some momentum, and amid the strength in corn and beans. Grain traders will continue to closely watch the "outside markets" today (gold, crude oil).

TrackBack

TrackBack URL for this entry:
http://www.traderblog.com/cgi-bin/mt-tb.cgi/348

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

Copyright © 2007 TradingEducation.com, LLC. All rights reserved


tcad.gif

Search Blog
Syndicate TraderBlog
Advertisers