CURRENCIES
The March U.S. dollar index is lower in early trading today, on a corrective pullback from strong gains scored this week. The bulls have gained some fresh upside momentum this week, but need to show more power soon. Slow stochastics for the dollar index are bullish early today. The dollar index finds shorter-term technical resistance at 77.00 and then at Thursday's high of 77.18. Shorter-term support is seen at 76.70 and then at 76.50. Today's key near-term Fibonacci support/resistance level: 76.54. Wyckoff's Intra Day Market Rating: 5.0
The March Euro is higher in early electronic trading, on a corrective bounce from solid losses suffered this week. Euro finds sell stop orders are likely located just below technical support at 1.4450 and then more stops just below support at this week's low of 1.4424. Shorter-term technical resistance for the Euro is seen at 1.4550 and then at 1.4600. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish early today. Today's key near-term Fibonacci support/resistance level: 1.4576 Wyckoff's Intra Day Market Rating: 5.0
GOLD
Gold is higher in early dealings today. Bulls are having a good week. For April gold, shorter-term technical resistance is seen at the overnight high of $920.80 and then at $925.00. Buy stops likely reside just above those levels. Sell stops likely reside just below support at the overnight low of $911.30 and then just below support at $900.00. Today's key near-term Fibonacci support/resistance level: $909.00. Wyckoff's Intra-Day Market Rating: 7.0
CRUDE OIL
Crude oil prices are firmer early today. Prices are still in a downtrend on the daily bar chart, from the early-January high. In March crude, look for buy stops to reside just above resistance at the overnight high of $89.25 and then just above resistance at $90.00. Look for sell stops just below technical support at the overnight low of $88.00, and then more sell stops just below support at $87.00. Today's key near-term Fibonacci support/resistance level: $88.15. Wyckoff's Intra-Day Market Rating: 5.5
GRAINS
Prices were solidly higher in overnight trading, ahead of this morning's monthly USDA supply and demand report.
Wheat was limit up overnight and continues to be an upside leader in the grains. The corn bulls appear to have become exhausted at higher levels. If wheat continues to surge, the downside in corn and beans will be limited, however. Would-be top pickers in the grains do not want to stand in front of a steaming locomotive.