Commodity Prices

Gold •495 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,600.50	+0.00	+0.00%
WTI Crude •11 mins	61.26	+1.13	+1.88%
Gasoline •11 mins	2.018	+0.047	+2.37%
Ethanol •495 days	2.161	+0.000	+0.00%
Silver •495 days	30.82	+1.16	+3.92%

Silver • 495 days	30.82	+1.16	+3.92%
Copper • 495 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	65.28	+1.22	+1.90%
Natural Gas • 11 mins	4.525	+0.187	+4.31%
Heating Oil • 11 mins	2.566	+0.056	+2.21%

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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).

Daily Technical Report