Commodity Prices

Gold •20 mins	2,348.30	+5.80	+0.25%
Platinum •20 mins	922.40	+1.90	+0.21%
WTI Crude •10 mins	83.82	+0.25	+0.30%
Gasoline •10 mins	2.767	+0.009	+0.31%
Ethanol •20 hours	2.161	+0.000	+0.00%
Silver •20 mins	27.55	-0.09	-0.32%

Silver • 20 mins	27.55	-0.09	-0.32%
Copper • 20 mins	4.570	+0.032	+0.69%
Brent Crude • 10 mins	89.42	+0.41	+0.46%
Natural Gas • 10 mins	1.587	-0.051	-3.11%
Heating Oil • 10 mins	2.556	+0.006	+0.23%

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EUR/USD: Potential Lower High in Place?

By - Dec 04, 2013, 5:33 AM CST

EUR/USD's rise is still viewed as a short-term rebound. Yesterday's strength has not been able to move higher than the resistance at 1.3622, posting a potential lower high. However, a break of the support at 1.3490 (see also the rising trendline) is needed to confirm a resumption of selling pressures. Another resistance stands at 1.3651 (21/10/2013 low), whereas another support is at 1.3400 (21/11/2013 low).

In the longer term, the decisive break of the strong support at 1.3462 (see also the rising channel) suggests that a significant top at 1.3832 has been made and favours the start of a new phase of weakness. A gradual decline towards the key support at 1.3105 (06/09/2013 low) is likely.

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