Commodity Prices

Gold •127 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	986.20	-12.90	-1.29%
WTI Crude •10 mins	70.98	-1.38	-1.91%
Gasoline •10 mins	2.023	-0.030	-1.47%
Ethanol •127 days	2.161	+0.000	+0.00%
Silver •127 days	30.82	+1.16	+3.92%

Silver • 127 days	30.82	+1.16	+3.92%
Copper • 127 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	74.39	-1.24	-1.64%
Natural Gas • 10 mins	2.724	+0.031	+1.15%
Heating Oil • 10 mins	2.253	-0.034	-1.47%

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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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