Commodity Prices

Gold •669 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,014.80	+2.90	+0.14%
WTI Crude •11 mins	101.25	-0.69	-0.68%
Gasoline •11 mins	3.592	-0.003	-0.08%
Ethanol •669 days	2.161	+0.000	+0.00%
Silver •669 days	30.82	+1.16	+3.92%

Silver • 669 days	30.82	+1.16	+3.92%
Copper • 669 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	107.44	-0.73	-0.67%
Natural Gas • 11 mins	2.792	+0.012	+0.43%
Heating Oil • 11 mins	3.925	-0.021	-0.54%

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EUR/USD: Short-Term Corrective Phase or Medium-Term Reversal?

By - Aug 29, 2013, 6:05 AM CDT

EUR/USD is challenging the support area defined by 1.3298 and the low of its rising channel (see also the potential short-term declining channel). The short-term technical configuration is negative as long as prices remain below the resistance at 1.3345 (intraday high).

A break of the key support at 1.3190 is needed to suggest a more significant medium-term reversal.

The region between 1.3417 and the annual high is expected to see a fair degree of resistance and should likely offer a reasonable short entry opportunity in the near future.

Daily Technical Report