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.

Post Calendar
September 2008
Sun Mon Tue Wed Thu Fri Sat
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30


Site Sponsor

Categories
 

Archives

Advertising

Interested in advertising on TraderBlog.com? Click here for more information.

Policies & Terms

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.



« Gold, Crude Under Pressure Again in Early Trading | Main | Today is an Extra Important Trading Day for Markets »

U.S. Dollar Bulls Gain Some Upside Momentum

CURRENCIES

The June U.S. dollar index is higher again in early trading today. Bulls are regaining some near-term technical momentum. Slow stochastics for the dollar index are bullish early today. The dollar index finds shorter-term technical resistance at the overnight high of 73.05 and then at 73.25. Shorter-term support is seen at the overnight low of 72.52 and then at 72.18. Today's key near-term Fibonacci support/resistance level: 73.00. Wyckoff's Intra Day Market Rating: 6.0

The June Euro is lower in early electronic trading. Bulls are fading. Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.5534 and then just below support at 1.5500. Shorter-term technical resistance for the Euro is seen at 1.5600 and then at the overnight high of 1.5653. 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: 1.5532. Wyckoff's Intra Day Market Rating: 4.0

GOLD

Gold is lower in early dealings today. Bears have fresh downside technical momentum. For June gold, shorter-term technical resistance is seen at $900.00 and then at the overnight high of $903.20. Buy stops likely reside just above those levels. Sell stops likely reside just below support at this week's low of $888.30 and then at $880.00. Today's key near-term Fibonacci support/resistance level: $880.00. Wyckoff's Intra-Day Market Rating: 4.0

CRUDE OIL

Crude oil prices are lower early today. In July crude, look for buy stops to reside just above resistance at $131.00 and then just above resistance at $132.00. Look for sell stops just below technical support at $129.00, and then more sell stops just below support at $128.00. Today's key near-term Fibonacci support/resistance level: $126.00. Wyckoff's Intra-Day Market Rating: 4.0

GRAINS

Prices were lower again in overnight trading, amid bearish "outside markets" again today. Same story in grains: Traders will continue to focus on the key outside markets--crude oil, gold and the value of the U.S. dollar. Weekly USDA export sales data, usually out this morning, is out Friday morning because of the U.S. holiday Monday.

TrackBack

TrackBack URL for this entry:
http://www.traderblog.com/cgi-bin/mt-tb.cgi/971

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

Copyright © 2007 TradingEducation.com, LLC. All rights reserved


tcad.gif

Search Blog
Syndicate TraderBlog
Advertisers