Commodity Prices

Gold •15 mins	2,323.10	-1.10	-0.05%
Platinum •15 mins	990.40	+2.00	+0.20%
WTI Crude •10 mins	78.23	-0.15	-0.19%
Gasoline •13 mins	2.533	-0.011	-0.41%
Ethanol •3 hours	2.161	+0.000	+0.00%
Silver •15 mins	27.49	-0.06	-0.21%

Silver • 15 mins	27.49	-0.06	-0.21%
Copper • 15 mins	4.594	-0.012	-0.25%
Brent Crude • 10 mins	82.96	-0.20	-0.24%
Natural Gas • 10 mins	2.214	+0.007	+0.32%
Heating Oil • 13 mins	2.457	-0.008	-0.33%

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EUR/USD: Making New Lows

By - Jul 03, 2013, 5:12 AM CDT

EUR/USD still exhibits a succession of lower highs. The recent new lows below the support at 1.2985 invalidate a potential base formation. Supports are now at 1.2942 and 1.2838. Hourly resistances can be found at 1.3038 (intraday high, see also the declining trendline) and 1.3103.

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 high at 1.3417 (19/06/2013 high) following Bernanke's comments is a significant top. A minimum medium-term move towards the support at 1.2797 (17/05/2013 low) is expected.

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