U.S. Dollar Firmer Early Monday
CURRENCIES
The September U.S. dollar index is firmer in early trading today. Bears still have some 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 72.58 and then at Friday's high of 72.86. Shorter-term support is seen at the overnight low of 72.25 and then at last week's low of 72.07. Today's key near-term Fibonacci support/resistance level: 72.61. Wyckoff's Intra Day Market Rating: 5.0
The September Euro is weaker in early electronic trading. Prices did poke to a fresh contract high overnight. Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.5790 and then just below support at this week's low of 1.5750. Shorter-term technical resistance for the Euro is seen at 1.5900 and then at the overnight contract high of 1.5940. 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: 1.5748. 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 $968.00 and then at Friday' high of $969.10. Buy stops likely reside just above those levels. Sell stops likely reside just below support at the overnight low of $955.00 and then at $950.00. Today's key near-term Fibonacci support/resistance level: $948.00. Wyckoff's Intra-Day Market Rating: 5.5
CRUDE OIL
Crude oil prices are lower early today. In August crude, look for buy stops to reside just above resistance at the overnight high of $145.17 and then just above resistance at $146.00. Look for sell stops just below technical support at the overnight low of $142.49 and then more sell stops just below support at $141.00. Today's key near-term Fibonacci support/resistance level: $142.71. Wyckoff's Intra-Day Market Rating: 5.0
GRAINS
Prices were sharply lower in overnight trading. Bears are starting out the week on a strong note, amid bearish "outside markets"--lower crude oil prices and a firmer U.S. dollar. Weather in the Corn Belt is also being deemed bearish as temps are forecast to be near normal, with good rain chances in the coming days. Corn has turned near-term technically weaker, but beans have not seen any near-term chart damage yet. Wheat futures are still in a near-term bearish technical mode.


Name: Jim Wyckoff 






