TraderBlog

CURRENCIES

The September U.S. dollar index is weaker in early morning electronic dealings, following solid losses Thursday. Dollar index bears have gained some near-term technical momentum. Slow stochastics are bearish today. The dollar index finds shorter-term technical resistance at the overnight high of 85.60, and then at 86.00. Shorter-term support is seen at 85.00. The September Euro today finds sell stop orders are likely located just below shorter-term technical support at the overnight low of 1.2723 and then more sell stops just below support at 1.2700. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2799 and then at 1.2850. Buy stops likely reside just above those shorter-term resistance levels. Slow stochastics for the Euro are bullish.

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OVERNIGHT/EARLY MORNING DEVELOPMENTS

The feature in overnight trading was sharply higher metals prices, led by gold, amid a weaker U.S. dollar following dollar-bearish wording in the Fed’s FOMC announcement Thursday afternoon, in which the Fed raised interest rates by 25 basis points. Crude oil is also firmer in early electronic dealings. T-Bonds and T-Notes are lower and the U.S. stock indexes are lower in early electronic trading. Grains were solidly higher in overnight electronic trading. There was no fresh, major, market-moving fundamental news overnight.

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CURRENCIES

The September U.S. dollar index is slightly higher in early morning electronic dealings. Dollar index bulls are losing some near-term technical momentum. Slow stochastics are
bearish today. The dollar index finds shorter-term technical resistance at this week’s high of 86.51, and then at last week’s high of 86.68. Shorter-term support is seen at this week’s low of 85.90. The September Euro today finds sell stop orders are likely located just below shorter-term technical support at this week’s low of 1.2575 and then heavy sell stops just below support at this month’s low of 1.2550. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2621 and then at 1.2655. Buy stops likely reside just above those shorter-term resistance levels. Slow stochastics for the Euro are turning bullish.

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OVERNIGHT/EARLY MORNING DEVELOPMENTS

There was no feature in overnight quiet trading. Gold and crude oil are firmer in early electronic dealings. The dollar is slightly higher versus the other major currencies. T-Bonds and T-Notes are slightly higher and the U.S. stock indexes are slightly higher in early electronic trading. Grains were mostly higher in overnight electronic trading. There was no fresh, major, market-moving fundamental news overnight. The big news today is the afternoon Fed FOMC announcement.

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CURRENCIES

The September U.S. dollar index is slightly higher in early
morning electronic dealings. Dollar index bulls are losing
some near-term technical momentum. Slow stochastics still
show the DX as short-term overbought and are turning
bearish. The dollar index finds shorter-term technical
resistance at this week’s high of 86.51, and then at last
week’s high of 86.68. Shorter-term support is seen at
Tuesday’s low of 85.90. The September Euro today finds sell
stop orders are likely located just below shorter-term
technical support at 1.2600 and then more sell stops just
below support at this week’s low of 1.2575. Shorter-term
technical resistance for the Euro is seen at Tuesday’s high
of 1.2689 and then at 1.2700. Buy stops likely reside just
above those shorter-term resistance levels. Slow
stochastics for the Euro are turning bullish.

(more…)

OVERNIGHT/EARLY MORNING DEVELOPMENTS

There was no feature in overnight quiet trading. Gold and crude oil are firmer in early electronic dealings. The dollar is slightly higher versus the other major currencies. T-Bonds and T-Notes are slightly higher and the U.S. stock indexes are slightly higher in early electronic trading. Grains were narrowly mixed in overnight electronic trading. There was no fresh, major, market-moving fundamental news overnight.

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CURRENCIES

The September U.S. dollar index is slightly higher in early
morning electronic dealings. Dollar index bulls still have
some near-term technical momentum. However, slow
stochastics still show the DX as short-term overbought. The
dollar index finds shorter-term technical resistance at
Monday’s high of 86.51, and then at last week’s high of
86.68. Shorter-term support is seen at the overnight low of
85.90. The September Euro today finds sell stop orders are
likely located just below shorter-term technical support at
1.2600 and then more sell stops just below support at the
overnight low of 1.2575. Shorter-term technical resistance
for the Euro is seen at the overnight high of 1.2689 and
then at 1.2700. Buy stops likely reside just above those
shorter-term resistance levels. Slow stochastics do show
the Euro as being short-term oversold today, and due for a
corrective bounce.

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NOTE: I’ve added key “Pivot Point” levels for the stock
indexes and Treasuries. If you’d like an explanation
of how these levels are derived, send me an email
and I’ll attach a feature on Pivot
Point analysis.–Jim

OVERNIGHT/EARLY MORNING DEVELOPMENTS

There feature overnight and in early morning electronic
trading is a rebound in gold and crude oil prices. The
dollar is slightly higher versus the other major

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CURRENCIES

The September U.S. dollar index is modestly lower in early morning electronic dealings, on a corrective pullback following strong gains last week. Dollar index bulls still have near-term technical momentum. However, slow stochastics now show the DX as short-term overbought. The dollar index finds shorter-term technical resistance at Friday’s high of 86.68. Shorter-term support is seen at 86.00. The September Euro today finds sell stop orders are likely located just below shorter-term technical support at 1.2600 and then heavier sell stops just below solid support at last week’s low of 1.2550. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2658 and then at 1.2700. Buy stops likely reside just above those shorter-term resistance levels. Slow stochastics do show the Euro as being short-term oversold today, and due for a corrective bounce.

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OVERNIGHT/EARLY MORNING DEVELOPMENTS

There was no real feature overnight or in early morning electronic trading. The dollar is weaker versus the other major currencies. Gold is near steady, crude oil prices are slightly lower, bonds and notes are slightly lower and the U.S. stock indexes are firmer in early electronic trading. Grains were solidly lower in overnight electronic trading. There was no fresh, major market-moving news overnight, or over the weekend.

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