Commodity Prices

Gold •589 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,000.10	-145.60	-6.79%
WTI Crude •11 mins	62.93	-1.70	-2.63%
Gasoline •13 mins	1.917	-0.062	-3.14%
Ethanol •589 days	2.161	+0.000	+0.00%
Silver •589 days	30.82	+1.16	+3.92%

Silver • 589 days	30.82	+1.16	+3.92%
Copper • 589 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.61	-1.79	-2.58%
Natural Gas • 11 mins	3.204	+0.045	+1.42%
Heating Oil • 11 mins	2.393	-0.047	-1.93%

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EUR/USD: Short-Term Bullish Momentum is Fading

By - Dec 21, 2012, 5:09 AM CST

EUR/USD has broken the strong resistance at 1.3172 (17/09/2012 high). However, the intraday bearish reversal made on 19 December close to the resistance at 1.3284 suggests a weakening short-term momentum. Hourly supports are at 1.3144 (17/12/2012 low) and 1.3041 (13/12/2012 low).

The higher low in July 2012 (compared to July 2010) and the recent new high above the strong resistance at 1.3172 suggest an improvement of the underlying trend. However, we still expect a phase of weakness in the next few weeks given the general overbought conditions. A strong resistance is at 1.3487 (24/02/2012 high).

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