Commodity Prices

Gold •624 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,992.30	+48.60	+2.50%
WTI Crude •11 mins	93.57	-1.98	-2.07%
Gasoline •14 mins	3.109	-0.018	-0.58%
Ethanol •624 days	2.161	+0.000	+0.00%
Silver •624 days	30.82	+1.16	+3.92%

Silver • 624 days	30.82	+1.16	+3.92%
Copper • 624 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	106.96	-1.69	-1.56%
Natural Gas • 11 mins	3.134	-0.032	-1.01%
Heating Oil • 15 mins	4.293	-0.049	-1.13%

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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