Commodity Prices

Gold •518 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,666.50	+16.30	+0.99%
WTI Crude •11 mins	59.11	+0.47	+0.80%
Gasoline •11 mins	1.834	+0.003	+0.19%
Ethanol •518 days	2.161	+0.000	+0.00%
Silver •518 days	30.82	+1.16	+3.92%

Silver • 518 days	30.82	+1.16	+3.92%
Copper • 518 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	62.85	+0.40	+0.64%
Natural Gas • 11 mins	4.971	+0.131	+2.71%
Heating Oil • 11 mins	2.310	-0.003	-0.13%

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EUR/USD: Potential Lower High in Place?

By - Dec 04, 2013, 5:33 AM CST

EUR/USD's rise is still viewed as a short-term rebound. Yesterday's strength has not been able to move higher than the resistance at 1.3622, posting a potential lower high. However, a break of the support at 1.3490 (see also the rising trendline) is needed to confirm a resumption of selling pressures. Another resistance stands at 1.3651 (21/10/2013 low), whereas another support is at 1.3400 (21/11/2013 low).

In the longer term, the decisive break of the strong support at 1.3462 (see also the rising channel) suggests that a significant top at 1.3832 has been made and favours the start of a new phase of weakness. A gradual decline towards the key support at 1.3105 (06/09/2013 low) is likely.

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