Commodity Prices

Gold •172 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	940.90	+4.50	+0.48%
WTI Crude •10 mins	69.36	-0.10	-0.14%
Gasoline •10 mins	1.946	+0.005	+0.24%
Ethanol •172 days	2.161	+0.000	+0.00%
Silver •172 days	30.82	+1.16	+3.92%

Silver • 172 days	30.82	+1.16	+3.92%
Copper • 172 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	72.80	-0.14	-0.19%
Natural Gas • 10 mins	3.827	+0.079	+2.11%
Heating Oil • 10 mins	2.244	+0.012	+0.54%

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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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