Commodity Prices

Gold •730 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,651.90	+23.80	+1.46%
WTI Crude •2 hours	68.78	+0.09	+0.13%
Gasoline •2 hours	2.953	+0.036	+1.23%
Ethanol •730 days	2.161	+0.000	+0.00%
Silver •730 days	30.82	+1.16	+3.92%

Silver • 730 days	30.82	+1.16	+3.92%
Copper • 730 days	4.530	+0.111	+2.51%
Brent Crude • 2 hours	72.12	+0.32	+0.45%
Natural Gas • 2 hours	3.245	+0.049	+1.53%
Heating Oil • 2 hours	3.257	+0.074	+2.34%

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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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