Commodity Prices

Gold •273 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	986.50	-8.70	-0.87%
WTI Crude •10 mins	69.98	-1.73	-2.41%
Gasoline •10 mins	2.249	-0.082	-3.53%
Ethanol •273 days	2.161	+0.000	+0.00%
Silver •273 days	30.82	+1.16	+3.92%

Silver • 273 days	30.82	+1.16	+3.92%
Copper • 273 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	73.26	-1.69	-2.25%
Natural Gas • 10 mins	4.001	-0.054	-1.33%
Heating Oil • 10 mins	2.252	-0.070	-3.03%

Headlines

658 days Will The ECB Continue To Hike Rates?
658 days Forbes: Aramco Remains Largest Company In The Middle East
660 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,060 days Could Crypto Overtake Traditional Investment?
1,064 days Americans Still Quitting Jobs At Record Pace
1,066 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,069 days Is The Dollar Too Strong?
1,070 days Big Tech Disappoints Investors on Earnings Calls
1,071 days Fear And Celebration On Twitter as Musk Takes The Reins
1,072 days China Is Quietly Trying To Distance Itself From Russia
1,073 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,076 days Crypto Investors Won Big In 2021
1,077 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,077 days Food Prices Are Skyrocketing As Putin’s War Persists
1,080 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,080 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,083 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,084 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,084 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,086 days Are NFTs About To Take Over Gaming?

The Problem With Modern Monetary Theory

Modern monetary theory has been…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

EUR/USD: Break Over 83.542 Signals Stronger Long-term Rise for USD

By - Jul 12, 2012, 7:32 AM CDT

EUR/USD has broken under the range of yesterday towards the short-term target at 1.2150. Should this level be met, a degree of support would be anticipated. However, this would be expected to be short-term in nature, with scope then for a substantial extension lower, provided a material break over 1.2400 cannot be achieved.

Trade in the US Dollar Index has also broken over the key high at 83.542. In a similar manner to EUR/USD, we see scope for a minor pullback from close to the current region. However, we note that yesterday's breach of the key level at 83.542 now warns of a much stronger long-term rise.

Longer-term charts in EUR/USD exhibit a mutli-month falling channel. Combined with negative daily structure, scope is seen for an eventual fall to the 1.0800 region.

Daily Technical Report