U.S. Dollar Lower in Early Dealings
CURRENCIES
The March U.S. dollar index is solidly lower in early trading today. Slow stochastics for the dollar index are bearish early today. The dollar index finds shorter-term technical resistance at 76.50 and then at the overnight high of 76.68. Shorter-term support is seen at the overnight low of 76.15 and then at 76.00. Today's key near-term Fibonacci support/resistance level: 76.90 Wyckoff's Intra Day Market Rating: 4.0
The March Euro is higher in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at 1.4600 and then more stops just below support at the overnight low of 1.4571. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.4670 and then at 1.4700. 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: 1.4704. Wyckoff's Intra Day Market Rating: 6.0
GOLD
Gold is solidly higher in early dealings today, amid the weaker U.S. dollar. For April gold, shorter-term technical support is seen at $900.00 and then at the overnight low of $894.80. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the overnight high of $909.00 and then just above resistance at the contract and all-time high of $922.50. Today's key near-term Fibonacci support/resistance level: $897.00. Wyckoff's Intra-Day Market Rating: 8.0
CRUDE OIL
Crude oil prices are solidly higher early today, on short covering. In March crude, look for buy stops to reside just above resistance at $89.00 and then just above resistance at $90.00. Look for sell stops just below technical support at the overnight low of $87.48, and then more sell stops just below support at $87.00. Today's key near-term Fibonacci support/resistance level: $88.75. Wyckoff's Intra-Day Market Rating: 6.0
GRAINS
Prices were solidly higher in overnight trading, on corrective bounces from strong to limit-down losses on Wednesday. Higher "outside markets" are also supportive for the grains today. However, near-term chart damage was inflicted in the grains on Wednesday. The U.S. recession fears are still bearish for the grains, due to perceived less demand. Also, the seasonal "February Break" phenomenon appears to be occurring now.


Name: Jim Wyckoff 






