Commodity Prices

Gold •582 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,018.30	-158.40	-7.28%
WTI Crude •11 mins	63.16	-1.98	-3.04%
Gasoline •11 mins	1.925	-0.040	-2.04%
Ethanol •582 days	2.161	+0.000	+0.00%
Silver •582 days	30.82	+1.16	+3.92%

Silver • 582 days	30.82	+1.16	+3.92%
Copper • 582 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.44	-2.02	-2.91%
Natural Gas • 11 mins	3.484	+0.019	+0.55%
Heating Oil • 11 mins	2.391	-0.079	-3.20%

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EUR/USD: Making a Significant Lower Low

By - Jan 06, 2014, 6:17 AM CST

EUR/USD has broken the support at 1.3621. Coupled with the false breakout of the key resistance area between 1.3811 (11/12/2013 high) and 1.3832, a medium-term double-top is likely underway. The implied downside risk is at 1.3440. Supports stand at 1.3524 and 1.3490 (25/11/2013 low). The short-term technical structure is negative as long as prices remain below the resistance at 1.3677.

In the longer term, the recent false breakout near the key resistance area defined by 1.3811 and the long-term declining trendline (around 1.3892) confirm a limited upside potential. We favour a corrective phase towards the 200 day moving average (around 1.3321).

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