Commodity Prices

Gold •295 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	962.00	-18.30	-1.87%
WTI Crude •10 mins	62.90	+0.11	+0.18%
Gasoline •12 mins	2.113	+0.007	+0.34%
Ethanol •295 days	2.161	+0.000	+0.00%
Silver •295 days	30.82	+1.16	+3.92%

Silver • 295 days	30.82	+1.16	+3.92%
Copper • 295 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.63	+0.08	+0.12%
Natural Gas • 10 mins	2.901	-0.029	-0.99%
Heating Oil • 12 mins	2.154	+0.010	+0.48%

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EUR/USD: The Rising Wedge Favours a Bearish Bias

By - Aug 28, 2012, 6:21 AM CDT

EUR/USD is still moving within its rising wedge (a bearish technical pattern). A break of the support at 1.2431 (22/08/2012 low) is needed to suggest the end of the rise that started at 1.2043.

Given the lack of base formation, the recent strength in EUR is seen as a rebound within an underlying downtrend. We would therefore look at signs of weakness coupled with overbought conditions to initiate a new short EUR position.

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