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Gold •134 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	941.50	-2.50	-0.26%
WTI Crude •10 mins	67.92	-0.78	-1.14%
Gasoline •12 mins	1.959	-0.022	-1.13%
Ethanol •134 days	2.161	+0.000	+0.00%
Silver •134 days	30.82	+1.16	+3.92%

Silver • 134 days	30.82	+1.16	+3.92%
Copper • 134 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	71.76	-0.80	-1.10%
Natural Gas • 10 mins	2.709	-0.076	-2.73%
Heating Oil • 11 mins	2.190	-0.022	-1.00%

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EUR/USD: Short-Term Recovery Higher Favoured

By - Jun 03, 2013, 5:33 AM CDT

EUR/USD: Short-Term Recovery Higher Favoured - MIG Bank - June 3/13

EUR/USD has broken its resistances at 1.2998 (22/02/2013 high) and is challenging the one at 1.3051. Short-term structure remains mildly bullish and while above the 1.2746 May 2013 low, scope is seen for a continuation of this near-term strength.

In the medium-term, the recent price action from 1.2746 (04/04/2013 low) is viewed as a corrective phase within a larger downtrend. The recent break of the resistance at 1.3029 (14/05/2013 high) suggests a longer horizontal consolidation before an eventual move lower.

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