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
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 1.2603 and then more sell stops just below support at 1.2550. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2645 and then at 1.2700. Buy stops likely reside just above those shorter-term resistance levels. Slow stochastics for the Euro are bearish today. Wyckoff’s Intra Day Market Rating: 4.0
Gold is trading near steady in early morning dealings. In August gold, shorter-term technical support is seen at the overnight low of $614.20. Sell stops likely reside just below that level, and then more sell stops are likely just below support at Tuesday’s low of $610.00. Buy stops likely reside just above resistance at the overnight high of $620.00 and then more buy stops just above resistance at Tuesday’s high of $624.20. Wyckoff’s Intra-Day Market Rating: 4.0
Prices are trading firmer in early electronic dealings. In September crude, look for buy stops to reside just above resistance at $74.50 and then just above resistance at $75.00. Look for heavy sell stops just below strong technical support at $73.50, and then more stops just below support at $73.00. Wyckoff’s Intra-Day Market Rating: 5.0
Prices were mixed in overnight electronic trading. Corn and soybeans were firmer on hot weather forecasts for the Corn Belt in the coming days, but with chances for rain. Wheat was weaker overnight on a lack of fresh bullish fundamental news. My bias for the trading day today: Choppy, narrow-range trading until noontime weather forecasts, and then prices could make a stronger move into the close.