Commodity Prices

Gold •368 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,409.40	+2.30	+0.16%
WTI Crude •10 mins	65.65	-0.85	-1.28%
Gasoline •10 mins	2.097	-0.020	-0.93%
Ethanol •368 days	2.161	+0.000	+0.00%
Silver •368 days	30.82	+1.16	+3.92%

Silver • 368 days	30.82	+1.16	+3.92%
Copper • 368 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	67.50	-0.80	-1.17%
Natural Gas • 10 mins	3.344	-0.043	-1.27%
Heating Oil • 10 mins	2.385	-0.024	-1.01%

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EUR/USD: Bearish Engulfing Pattern Casts a Negative Bias

By - Apr 18, 2013, 6:03 AM CDT

EUR/USD completely retraced Tuesday's rise yesterday, validating a bearish engulfing pattern and calling for a short-term bearish bias. Hourly resistances can be found at 1.3102 and 1.3125 (50% and 61.8% retracement of yesterday's decline). Hourly supports are at 1.3002 (17/04/2013 low) and 1.2962 (08/04/2013 low).

In the longer-term, a significant top has likely been made at 1.3711 (01/02/2013 high). Therefore, the recent rise from 1.2746 (04/04/2013 low) is seen as a rebound within an underlying downtrend. A key resistance is at 1.3319 (25/02/2013 high).

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