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.

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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 Quieter in Early Dealings | Main | U.S. Treasuries Solidly Higher Early »

U.S. Dollar Near Steady in Early Dealings

CURRENCIES

The June U.S. dollar index is near steady in early trading today. Prices Wednesday hit a fresh contract and all-time low. Bears have the solid near-term technical advantage. Slow stochastics for the dollar index are neutral early today. The dollar index finds shorter-term technical resistance at Wednesday's high of 74.85 and then at 75.00. Shorter-term support is seen at Wednesday's contract low of 74.48 and then at 74.25. Today's key near-term Fibonacci support/resistance level: 75.42. Wyckoff's Intra Day Market Rating: 2.0

The June Euro is near steady in early electronic trading. Euro finds sell stop orders are likely located just below technical support at 1.5000 and then more stops just below support at 1.4950. Shorter-term technical resistance for the Euro is seen at Wednesday's contract high of 1.5086 and then at 1.5100. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish early today. Today's key near-term Fibonacci support/resistance level: 1.4946 Wyckoff's Intra Day Market Rating: 7.5

GOLD

Gold is firmer in early dealings today. For April gold, shorter-term technical resistance is seen at the contract high of $967.70 and then at the $975.00. Buy stops likely reside just above those levels. Sell stops likely reside just below support at the overnight low of $955.50 and then just below support at $950.00. Today's key near-term Fibonacci support/resistance level: $941.30. Wyckoff's Intra-Day Market Rating: 7.5

CRUDE OIL

Crude oil prices are firmer early today. In April crude, look for buy stops to reside just above resistance at $101.00 and then just above resistance at the contract high of $102.08. Look for sell stops just below technical support at $99.00, and then more sell stops just below support at $98.00. Today's key near-term Fibonacci support/resistance level: $99.50. Wyckoff's Intra-Day Market Rating: 7.5

GRAINS

Prices were mixed in overnight trading. Corn was steady, beans firmer and wheat lower. Traders will scrutinize today's USDA weekly export sales report. The recent higher volatility is symptomatic of very mature bull markets. The volatility in wheat, especially, does suggest a market top is close at hand, or in place.

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