Greenback Weaker Again in Early Dealings
CURRENCIES
The September U.S. dollar index is lower in early trading today. Bears still have solid downside near-term technical momentum. Slow stochastics for the dollar index are bearish early today. The dollar index finds shorter-term technical resistance at the overnight high of 72.05 and then at 72.30. Shorter-term support is seen at the overnight low of 71.76 and then at 71.50. Today's key near-term Fibonacci support/resistance level: 72.42. Wyckoff's Intra Day Market Rating: 3.0
The September Euro is slightly higher in early electronic trading. Euro finds sell stop orders are likely located just below technical support at Tuesday's low of 1.5814 and then just below support at this week's low of 1.5790. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.5998 and then at 1.5950. 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: 1.5822. Wyckoff's Intra Day Market Rating: 6.0
GOLD
Gold is trading lower in early dealings today. For August gold, shorter-term technical resistance is seen at the overnight high of $979.30 and then at $990.00. Buy stops likely reside just above those levels. Sell stops likely reside just below support at Tuesday's low of $968.70 and then at $960.00. Today's key near-term Fibonacci support/resistance level: $960.00. Wyckoff's Intra-Day Market Rating: 4.5
CRUDE OIL
Crude oil prices are solidly lower early today. Bears are gaining downside technical momentum. In August crude, look for buy stops to reside just above resistance at the overnight high of $139.30 and then just above resistance at $140.00. Look for sell stops just below technical support at Tuesday's low of $135.92 and then more sell stops just below support at $135.00. Today's key near-term Fibonacci support/resistance level: $139.68. Wyckoff's Intra-Day Market Rating: 4.0
GRAINS
Prices were lower in overnight trading, on the continued sell off in crude oil futures and worries about U.S. consumer demand amid economic weakness. Weather in the Corn Belt is still being deemed benign. However, hotter weather is on the way in the coming days, which could limit the downside in corn and soybeans. Corn is still near-term technically weak, but beans have not seen any significant chart damage. Wheat futures are still in a near-term bearish technical mode.


Name: Jim Wyckoff 






