CURRENCIES

The September U.S. dollar index is lower in early morning dealings. Slow stochastics are neutral today. The dollar index finds shorter-term technical resistance at today’s high of 85.08, and then at this week’s high of 85.42. Shorter-term support is seen at today’s low of 84.42 and then at 84.00. The September Euro is higher in early trading, and did hit a fresh four-week high early on. The Euro today finds sell stop orders are likely located just below shorter-term technical support at today’s low of 1.2827 and then more sell stops just below support at 1.2800. Shorter-term technical resistance for the Euro is seen at today’s high of 1.2925 and then at 1.2950. Buy stops likely reside just above those shorter-term resistance levels. Slow stochastics for the Euro are into overbought territory and do suggest near-term weakness.

METALS

The precious metals are trading steady to lower in early morning dealings, on a pullback from big gains seen this week. In August gold, shorter-term technical support for August gold today is seen at the overnight low of $630.10. Light sell stops likely reside just below that level, and then just below support at $625.00. Buy stops likely reside just above resistance at today’s high of $639.50 and then just above shorter-term resistance at $643.50.

ENERGIES

Prices are trading modestly lower in early electronic dealings, on a pullback from big gains seen this week. Prices did hit a fresh nearly two-month high in overnight trading. Selling interest will be limited ahead of the weekend and by the heightened geopolitical tensions. In August crude, look for buy stops to reside just above resistance at the overnight high of $75.78 and then at just above solid resistance at $76.00. Look for sell stops just below shorter-term support at the overnight low of $74.72, and then just below support at $74.50. Bulls still have solid upside technical momentum are eyeing the contract high of $77.08 a barrel.

GRAINS

Prices were sharply lower in overnight electronic trading. Some weather forecasters have put better chances for rain into next week’s Corn Belt forecast. But the weather forecasts change quickly in the summertime and by midday today, the forecasts could change again. This weather market scare in the corn and beans is not finished yet. Grain traders will continue to watch the “outside markets.” Look for any downside price pressure to be seen as buying opportunities by many, for the near term.