Commodity Prices

Gold •274 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	956.20	-0.40	-0.04%
WTI Crude •10 mins	66.72	-0.23	-0.34%
Gasoline •15 mins	2.154	-0.010	-0.46%
Ethanol •274 days	2.161	+0.000	+0.00%
Silver •274 days	30.82	+1.16	+3.92%

Silver • 274 days	30.82	+1.16	+3.92%
Copper • 274 days	4.530	+0.111	+2.51%
Brent Crude • 2 hours	70.14	-4.81	-6.42%
Natural Gas • 11 mins	4.140	+0.002	+0.05%
Heating Oil • 10 mins	2.180	-0.009	-0.39%

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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