Name: Jim Wyckoff 
U.S. Dollar Sees Short-Covering Bounce Early
CURRENCIES
The March U.S. dollar index is solidly higher in early trading today, on a short-covering bounce in a bear market. Bears still have the overall near-term technical advantage. Slow stochastics for the dollar index are neutral early today. The dollar index finds shorter-term technical resistance at 76.50 and then at 76.70. Shorter-term support is seen at the overnight low of 76.18 and then at 76.00. Today's key near-term Fibonacci support/resistance level: 76.54. Wyckoff's Intra Day Market Rating: 5.0
The March Euro is lower in early electronic trading. Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.4623 and then more stops just below support at 1.4600. Shorter-term technical resistance for the Euro is seen at 1.4700 and then at the overnight high of 1.4722. 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: 1.4685 Wyckoff's Intra Day Market Rating: 4.0
GOLD
Gold is solidly slightly lower in early dealings today. For April gold, shorter-term technical resistance is seen at Tuesday's high of $934.40 and then at the contract high of $942.20. Buy stops likely reside just above those levels. Sell stops likely reside just below support at the overnight low of $924.40 and then just below support at $920.00. Today's key near-term Fibonacci support/resistance level: $922.00. Wyckoff's Intra-Day Market Rating: 5.0
CRUDE OIL
Crude oil prices are weaker early today. Bulls have gained solid upside technical momentum recently, but the $100.00 mark is strong psychological resistance that has turned prices back in recent months. In April crude, look for buy stops to reside just above resistance at $100.00 and then just above resistance at $101.00. Look for sell stops just below technical support at $98.00, and then more sell stops just below support at $97.00. Today's key near-term Fibonacci support/resistance level: $96.91. Wyckoff's Intra-Day Market Rating: 7.0
GRAINS
Prices were mixed but mostly lower in overnight trading. The bulls have made a big run and now may need to at least pause for a bit. Grain traders will continue to look to the key "outside markets"--gold, crude oil and the U.S. dollar--for direction. My bias is also that wheat will continue to be a leader in the grain futures complex.
