U.S. Dollar Near Steady Early; Dollar Bulls Still Shaky
CURRENCIES
The September U.S. dollar index is near steady after last Friday's strong losses. Bears still have near-term technical momentum. Slow stochastics are bearish early today. The dollar index finds shorter-term technical resistance at 80.89 and then at 81.00. Shorter-term support is seen at Friday's low of 80.54 and then at 80.35. Today's key near-term Fibonacci support/resistance level: 80.92. Wyckoff's Intra Day Market Rating: 4.0
The September Euro is weaker in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at 1.3650 and then more stops just below support at 1.3631. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.3695 and then at 1.3730. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bullish early today. Today's key near-term Fibonacci support/resistance level: 1.3683. Wyckoff's Intra Day Market Rating: 6.0
GOLD
Gold is trading slightly lower in early dealings today. For December gold, shorter-term technical support is seen at the overnight low of $675.60 and then at $672.50. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at Friday's high of $679.00 and then at $682.50. Today's key near-term Fibonacci support/resistance level: $684.50. Wyckoff's Intra-Day Market Rating: 5.0
CRUDE OIL
Crude oil prices are slightly higher in early electronic dealings. In October crude, look for buy stops to reside just above resistance at $71.50 and then just above resistance at $72.00. Look for sell stops just below technical support at the overnight low of $70.76, and then more sell stops just below support at $70.00. Today's key near-term Fibonacci support/resistance level: $72.26. Wyckoff's Intra-Day Market Rating: 5.0
GRAINS
Prices were mixed and mostly lower in overnight trading. Corn and soybeans were solidly lower and wheat was slightly higher. Corn and bean bulls have pretty much played out the bullish impact of flooding in the Corn Belt and there is a lack of fresh fundamental bullish inputs. Wheat bulls continue strong amid no solid technical clues that a near-term top is close at hand.


Name: Jim Wyckoff 






