Commodity Prices

Gold •619 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,042.10	-123.40	-5.70%
WTI Crude •23 hours	98.71	+2.98	+3.11%
Gasoline •23 hours	3.041	+0.077	+2.59%
Ethanol •619 days	2.161	+0.000	+0.00%
Silver •619 days	30.82	+1.16	+3.92%

Silver • 619 days	30.82	+1.16	+3.92%
Copper • 619 days	4.530	+0.111	+2.51%
Brent Crude • 22 hours	103.14	+2.68	+2.67%
Natural Gas • 23 hours	3.131	-0.102	-3.15%
Heating Oil • 23 hours	4.015	+0.116	+2.97%

Headlines

1,003 days Will The ECB Continue To Hike Rates?
1,003 days Forbes: Aramco Remains Largest Company In The Middle East
1,005 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,405 days Could Crypto Overtake Traditional Investment?
1,410 days Americans Still Quitting Jobs At Record Pace
1,412 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,415 days Is The Dollar Too Strong?
1,415 days Big Tech Disappoints Investors on Earnings Calls
1,416 days Fear And Celebration On Twitter as Musk Takes The Reins
1,418 days China Is Quietly Trying To Distance Itself From Russia
1,418 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,422 days Crypto Investors Won Big In 2021
1,422 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,423 days Food Prices Are Skyrocketing As Putin’s War Persists
1,425 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,426 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,429 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,430 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,430 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,432 days Are NFTs About To Take Over Gaming?

How Millennials Are Reshaping Real Estate

The real estate market is…

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Trader Compares Current Market Environment To 2007

It’s a mistake to view…

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