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.



« U.S. Stock Index Futures Weaker Early | Main | U.S. Stock Indexes Firmer Early »

U.S. Dollar Firmer Early Today

CURRENCIES

The June U.S. dollar index is higher in early trading today. Slow stochastics for the dollar index are bearish early today. The dollar index finds shorter-term technical resistance at Tuesday's high of 73.50 and then at this week's high of 73.72. Shorter-term support is seen at the overnight low of 73.21 and then at 73.00. Today's key near-term Fibonacci support/resistance level: 73.29. Wyckoff's Intra Day Market Rating: 5.0

The June Euro is lower in early electronic trading. Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.5381 and then more stops just below support at last week's low of 1.5329. Shorter-term technical resistance for the Euro is seen at 1.5450 and then at the overnight high of 1.5510. 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: 1.5583. Wyckoff's Intra Day Market Rating: 4.0

GOLD

Gold is weaker in early dealings today. For June gold, shorter-term technical resistance is seen at $875.00 and then at $880.00. Buy stops likely reside just above those levels. Sell stops likely reside just below support at $865.00 and then at $860.00. Today's key near-term Fibonacci support/resistance level: $879.00. Wyckoff's Intra-Day Market Rating: 4.0

CRUDE OIL

Crude oil prices are near steady early today. In June crude, look for buy stops to reside just above resistance at the contract high of $122.73 and then just above resistance at $123.00. Look for sell stops just below technical support at $121.00, and then more sell stops just below support at $120.00. Today's key near-term Fibonacci support/resistance level: $120.30. Wyckoff's Intra-Day Market Rating: 6.0

GRAINS

Prices were higher in overnight trading. Grain traders are still watching weather in the U.S. Corn Belt. More heavy rains fell overnight and that will be bullish for corn and bearish for soybeans. Wheat traders will be watching for results of this week's Kansas wheat tour. Bears have near-term momentum in soybeans and wheat, and corn bulls are still technically strong.

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