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.



« U.S. Treasuries Under Pressure Early | Main | U.S. Stock Indexes, Treasuries Lower Early »

U.S. Dollar Stronger in Early Dealings

CURRENCIES

The September U.S. dollar index is higher in early morning trading. Slow stochastics are bearish early today. The dollar index finds shorter-term technical resistance at the overnight high of 82.50 and then at 82.75. Shorter-term support is seen at Wednesday's low of 82.21 and then at 82.00. Wyckoff's Intra Day Market Rating: 5.0

The September Euro is weaker in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.3410 and then more stops just below support at 1.3400. Shorter-term technical resistance for the Euro is seen at 1.3450 and then at this week's high of 1.3478. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish early today. Wyckoff's Intra Day Market Rating: 5.0

GOLD

Gold is trading weaker in early dealings today. For August gold, shorter-term technical support is seen at the overnight low of $654.10 and then at $650.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the overnight high of $659.30 and then at $662.50. Wyckoff's Intra-Day Market Rating: 4.0

CRUDE OIL

Crude oil prices are higher in early electronic dealings. Bulls still have upside near-term technical momentum on their side, but there is strong overhead resistance around the $70.00 level. In August crude, look for buy stops to reside just above resistance at $70.00 and then just above resistance at $70.50. Look for sell stops just below technical support at $69.00, and then more sell stops just below support at $68.30. Wyckoff's Intra-Day Market Rating: 8.0

GRAINS

Prices were higher in overnight trading. All eyes will be on updated weather forecasts this morning and at midday. Here's the key for traders: Weather forecasts can and will flip-flop on near-term expectations for the Corn Belt. But key is to watch for a trend change in the weather patterns. Right now the overall weather trend in the Corn Belt remains in favor of the bulls. The fireworks this summer are not finished. Dips are still seen as buying opportunities in grains.

TrackBack

TrackBack URL for this entry:
http://www.traderblog.com/cgi-bin/mt-tb.cgi/512

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