Commodity Prices

Gold •839 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,658.40	+10.20	+0.62%
WTI Crude •11 mins	98.22	-0.32	-0.32%
Gasoline •11 mins	3.122	-0.069	-2.17%
Ethanol •839 days	2.161	+0.000	+0.00%
Silver •839 days	30.82	+1.16	+3.92%

Silver • 839 days	30.82	+1.16	+3.92%
Copper • 839 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	109.25	-0.30	-0.27%
Natural Gas • 11 mins	3.015	-0.043	-1.41%
Heating Oil • 13 mins	4.939	+0.019	+0.39%

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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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