Commodity Prices

Gold •711 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,758.80	+46.60	+2.72%
WTI Crude •11 mins	81.10	-3.78	-4.45%
Gasoline •11 mins	2.976	-0.074	-2.42%
Ethanol •711 days	2.161	+0.000	+0.00%
Silver •711 days	30.82	+1.16	+3.92%

Silver • 711 days	30.82	+1.16	+3.92%
Copper • 711 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	83.84	-3.49	-4.00%
Natural Gas • 11 mins	3.067	-0.053	-1.70%
Heating Oil • 14 mins	3.298	-0.106	-3.11%

Headlines

1,095 days Will The ECB Continue To Hike Rates?
1,096 days Forbes: Aramco Remains Largest Company In The Middle East
1,097 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,497 days Could Crypto Overtake Traditional Investment?
1,502 days Americans Still Quitting Jobs At Record Pace
1,504 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,507 days Is The Dollar Too Strong?
1,507 days Big Tech Disappoints Investors on Earnings Calls
1,508 days Fear And Celebration On Twitter as Musk Takes The Reins
1,510 days China Is Quietly Trying To Distance Itself From Russia
1,510 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,514 days Crypto Investors Won Big In 2021
1,514 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,515 days Food Prices Are Skyrocketing As Putin’s War Persists
1,517 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,518 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,521 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,522 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,522 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,524 days Are NFTs About To Take Over Gaming?

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

Daily Technical Report

By - Dec 27, 2011, 6:57 AM CST

EUR/USD is unwinding mildly from oversold conditions, driven by short-covering as the market adjusts to the break beneath 1.3146.

Our cycle analysis successfully signalled increased volatility within the first two weeks of December across "risk" proxies, including the equity and commodity markets.

Watch for a sustained close beneath 1.3000 (psychological level) to resume EUR/USDâ€™s multi-month downtrend into 1.2870 (2011 major low).

Near-term resistance can be found at 1.3215 and potentially even 1.3550 (02 Dec high). Any rebound into these levels is likely to be short-lived.

Inversely, the USD Index has extended its recovery higher to new 11-month highs, (a move worth over 10% from the summer 2010 lows).

Speculative (net long) liquidity flows are strengthening once again and will continue to help resume the USDâ€™s major bull-run from its historic oversold extremes (momentum, sentiment and liquidity).

Daily Technical Report