U.S. Dollar Weaker Ahead of Fed Decision
CURRENCIES
The March U.S. dollar index is lower in early trading today. A U.S. interest rate cut today is going to be dollar-bearish. Slow stochastics for the dollar index are bearish early today. The dollar index finds shorter-term technical resistance at the overnight high of 75.70 and then at 76.00. Shorter-term support is seen at 75.44 and then at this month's low of 75.27. Today's key near-term Fibonacci support/resistance level: 75.93 Wyckoff's Intra Day Market Rating: 3.5
The March Euro is firmer in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.4738 and then more stops just below support at 1.4700. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.4802 and then at 1.4850. 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: 1.4700. Wyckoff's Intra Day Market Rating: 7.0
GOLD
Gold is near steady in early dealings today. For April gold, shorter-term technical support is seen at the overnight low of $925.00 and then at $920.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the contract and all-time high of $939.00 and then just above resistance at $945.00. Today's key near-term Fibonacci support/resistance level: $907.00. Wyckoff's Intra-Day Market Rating: 7.0
CRUDE OIL
Crude oil prices are higher early today. In March crude, look for buy stops to reside just above resistance at $93.00 and then just above resistance at $94.00. Look for sell stops just below technical support at $92.00, and then more sell stops just below support at $91.00. Today's key near-term Fibonacci support/resistance level: $90.90. Wyckoff's Intra-Day Market Rating: 7.0
GRAINS
Prices were weaker in overnight trading. A key for all grain futures traders for the near term is to keep a close eye on the Minneapolis spring wheat futures market. This smaller market has led the wheat futures higher recently, and wheat has led the grains recently. Any significant weakening in the Minneapolis wheat futures market could well have a domino effect in the grains. Grain traders will also continue to look to the key "outside markets" gold and crude oil for direction.


Name: Jim Wyckoff 






