TraderBlog

CURRENCIES

The September U.S. dollar index is slightly higher in early morning dealings. The bulls are fading and a weekly low close today would add to the near-term bearish posture of the index. Slow stochastics are bearish for today. The dollar index finds shorter-term technical resistance at 86.00 and then at this week’s high of 86.52. Shorter-term support is seen at this week’s low of 85.12 and then at 85.00. Wyckoff’s Intra Day Market Rating: 3.5

The September Euro is lower in early trading. The Euro today finds sell stop orders are likely located just below shorter-term technical support at 1.2700 and then more sell stops just below support at 1.2650. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2743 and then at this week’s high of 1.2815. Buy stops likely reside just above those shorter-term resistance levels. Slow stochastics for the Euro are bullish for today. Wyckoff’s Intra Day Market Rating: 7.0

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NOTE: I will be out of the office until Monday afternoon, and your next blog report will be early Tuesday morning.–Jim

OVERNIGHT/EARLY MORNING DEVELOPMENTS

There was no major feature in overnight/early morning trading. Gold is trading modestly lower and crude oil prices are also modestly lower. The U.S. dollar is near steady versus the other major currencies. The U.S. stock indexes are narrowly mixed in early trading. U.S. Treasuries are slightly lower. Traders are awaiting this morning’s GDP report.

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CURRENCIES

The September U.S. dollar index is lower in early morning dealings. Prices hit a fresh two-week low overnight and the bulls are fading. Slow stochastics are bearish for today. The dollar index finds shorter-term technical resistance at the overnight high of 86.67 and then at 86.00. Shorter-term support is seen at 85.00 and then at 84.50. Wyckoff’s Intra Day Market Rating: 4.0

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OVERNIGHT/EARLY MORNING DEVELOPMENTS

There was no major feature in overnight/early morning trading. Gold is trading solidly higher and crude oil prices are moderately higher. The U.S. dollar is lower versus the other major currencies. The U.S. stock indexes are higher in early trading. U.S. Treasuries are slightly higher.

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CURRENCIES

The September U.S. dollar index is weaker in early morning dealings. Slow stochastics are bullish today. The dollar index finds shorter-term technical resistance at Tuesday’s high of 86.52 and then at 86.68. Shorter-term support is seen at 86.00 and then at Tuesday’s low of 85.85. Wyckoff’s Intra Day Market Rating: 6.0

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OVERNIGHT/EARLY MORNING DEVELOPMENTS

There was no major feature in overnight/early morning trading. Gold is near steady and crude oil prices are higher. The U.S. dollar is slightly lower versus the other major currencies. The U.S. stock indexes are narrowly mixed in early trading. U.S. Treasuries are lower.

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CURRENCIES

The September U.S. dollar index is weaker in early morning dealings, on a corrective pullback from gains Monday. Slow stochastics are turning bullish today. The dollar index finds shorter-term technical resistance at the overnight high of 86.22 and then at 86.50. Shorter-term support is seen at the overnight low of 85.95 and then at last week’s low of 85.55. The September Euro is slightly higher in early trading. The Euro today finds sell stop orders are likely located just below shorter-term technical support at the overnight low of 1.2649 and then more sell stops just below support at 1.2600. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2718 and then at the Monday’s high of 1.2754. Buy stops likely reside just above those shorter-term resistance levels. Slow stochastics for the Euro are turning bearish.

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OVERNIGHT/EARLY MORNING DEVELOPMENTS

The feature in overnight/early morning trading is higher gold and crude oil prices and a weaker U.S. dollar versus the other major currencies. The U.S. stock indexes are higher in early trading. U.S. Treasuries are also slightly higher.

(more…)

CURRENCIES

The September U.S. dollar index is higher in early morning dealings, on a corrective bounce from recent losses. Slow stochastics are bearish again today. The dollar index finds shorter-term technical resistance at the overnight high of 86.15 and then at 86.50. Shorter-term support is seen at last week’s low of 85.55 and then at 85.00. The September Euro is lower in early trading. Price action so far today is scoring a bearish “outside day” down on the daily bar chart. The Euro today finds sell stop orders are likely located just below shorter-term technical support at the overnight low of 1.2655 and then more sell stops just below support at 1.2600. Shorter-term technical resistance for the Euro is seen at 1.2700 and then at the overnight high of 1.2754. Buy stops likely reside just above those shorter-term resistance levels. Slow stochastics for the Euro are bullish.

(more…)

OVERNIGHT/EARLY MORNING DEVELOPMENTS

The feature in overnight/early morning trading is weaker gold and crude oil prices and a stronger U.S. dollar versus the other major currencies. The U.S. stock indexes are higher in early trading. U.S. Treasuries are slightly lower.

(more…)