Commodity Prices

Gold •635 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,920.00	+14.40	+0.76%
WTI Crude •11 mins	102.95	+0.07	+0.07%
Gasoline •3 hours	3.343	-0.009	-0.27%
Ethanol •635 days	2.161	+0.000	+0.00%
Silver •635 days	30.82	+1.16	+3.92%

Silver • 635 days	30.82	+1.16	+3.92%
Copper • 635 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	116.62	+3.84	+3.40%
Natural Gas • 11 mins	2.833	-0.054	-1.87%
Heating Oil • 1 hour	4.352	-0.012	-0.27%

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EUR/USD Bearish Reversal Weighed by DeMark Signal

By - May 02, 2012, 5:56 AM CDT

EUR/USDâ€™s latest bearish reversal is extending lower into psychological support at 1.3000. The move is being weighed by a recent DeMark™ exhaustion signal.

A decisive close below 1.3000 is required to unlock the important multimonth reversal pattern into 1.2625 (16 Jan swing low).

Meanwhile, only a sustained daily close back above 1.3284 (01 May high), puts this scenario on hold for a potential recovery into our upside target zone at 1.3460/62 (200-day average).

Inversely, the USD Index has breached the lower side of its multi-week triangle consolidation pattern. Support remains at 78.66 and 78.09.

Expect these levels to act as one of the last points of defence for a relaunch of the greenbackâ€™s recovery which is still part of the bullish cycle into 80.73 (15th March high) and 81.78 (13th Jan swing/12 month high).

Daily Technical Report