U.S. Dollar Steady Early, but with Weak Undertone
CURRENCIES
The June U.S. dollar index is near steady in early trading today. Slow stochastics for the dollar index neutral early today. The dollar index finds shorter-term technical resistance at the overnight high of 72.34 and then at 72.50. Shorter-term support is seen at the overnight low of 71.91 and then at 71.70. Today's key near-term Fibonacci support/resistance level: 72.20. Wyckoff's Intra Day Market Rating: 4.0
The June Euro is weaker in early electronic trading. Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.5710 and then just below support at 1.5650. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.5804 and then at 1.5850. Buy stops likely reside just above those levels. Slow stochastics for the Euro are neutral early today. Today's key near-term Fibonacci support/resistance level: 1.5708. Wyckoff's Intra Day Market Rating: 5.5
GOLD
Gold is weaker in early dealings today. For June gold, shorter-term technical resistance is seen at the overnight high of $930.60 and then at last week's high of $935.40. Buy stops likely reside just above those levels. Sell stops likely reside just below support at $920.00 and then at $914.70. Today's key near-term Fibonacci support/resistance level: $914.50. Wyckoff's Intra-Day Market Rating: 5.0
CRUDE OIL
Crude oil prices are higher early today. Look for buy stops to reside just above resistance at $134.00 and then just above resistance at $135.00. Look for sell stops just below technical support at $131.00, and then more sell stops just below support at $130.00. Today's key near-term Fibonacci support/resistance level: $129.50. Wyckoff's Intra-Day Market Rating: 7.0
GRAINS
Prices were higher in overnight trading. Grain traders will continue to focus on the key "outside markets"--crude oil, gold and the value of the U.S. dollar today. These outside markets are in an overall bullish posture to start the week. As we head into summer, grain traders will keep a closer watch on the weather forecasts during the growing season for U.S. corn and soybean crops.


Name: Jim Wyckoff 






