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Gold •172 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	935.70	-0.70	-0.07%
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Gasoline •16 mins	1.948	+0.007	+0.33%
Ethanol •172 days	2.161	+0.000	+0.00%
Silver •172 days	30.82	+1.16	+3.92%

Silver • 172 days	30.82	+1.16	+3.92%
Copper • 172 days	4.530	+0.111	+2.51%
Brent Crude • 14 mins	73.04	+0.10	+0.14%
Natural Gas • 10 mins	3.865	+0.117	+3.12%
Heating Oil • 15 mins	2.245	+0.014	+0.61%

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EUR/USD: Approaching a Strong Resistance Area

By - Dec 13, 2012, 5:31 AM CST

EUR/USD rose sharply yesterday and broke the resistance at 1.3046 (04/12/2012 low). It is now close to the strong resistance area defined by 1.3127 (05/12/2012 high) and 1.3172 (17/09/2012 high). Hourly supports are at 1.3056 (intraday low) and 1.2982 (intraday low).

The underlying trend is negative (see the succession of lower highs since May 2011 peak). Therefore we expect limited upside potential given the strong resistance at 1.3172 (17/09/2012 high) and the general overbought conditions.

Daily Technical Report