Commodity Prices

Gold •362 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,349.40	-2.50	-0.18%
WTI Crude •10 mins	64.84	-0.68	-1.04%
Gasoline •10 mins	2.076	-0.013	-0.64%
Ethanol •362 days	2.161	+0.000	+0.00%
Silver •362 days	30.82	+1.16	+3.92%

Silver • 362 days	30.82	+1.16	+3.92%
Copper • 362 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.59	-0.18	-0.27%
Natural Gas • 10 mins	3.426	-0.313	-8.37%
Heating Oil • 10 mins	2.336	+0.029	+1.24%

Headlines

746 days Will The ECB Continue To Hike Rates?
746 days Forbes: Aramco Remains Largest Company In The Middle East
748 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,148 days Could Crypto Overtake Traditional Investment?
1,153 days Americans Still Quitting Jobs At Record Pace
1,155 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,158 days Is The Dollar Too Strong?
1,158 days Big Tech Disappoints Investors on Earnings Calls
1,159 days Fear And Celebration On Twitter as Musk Takes The Reins
1,161 days China Is Quietly Trying To Distance Itself From Russia
1,161 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,165 days Crypto Investors Won Big In 2021
1,165 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,166 days Food Prices Are Skyrocketing As Putin’s War Persists
1,168 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,169 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,172 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,173 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,173 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,175 days Are NFTs About To Take Over Gaming?

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

Wells Fargo Back In The Spotlight Over Personal Loan Cancellations

Wells Fargo has done it…

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

EUR/USD: Bearish Breakout of The Support at 1.3508

By - Feb 03, 2014, 6:04 AM CST

EUR/USD has broken the support at 1.3508 (see also the steeper rising trendline), opening the way for a further decline towards the 200 day moving average (around 1.3380). An initial resistance lies at 1.3510 (intraday high). An hourly resistance stands at 1.3573 (31/01/2013 high). A horizontal support can be found at 1.3400.

In the longer term, the recent false breakout near the key resistance area defined by 1.3811 (11/12/2013 high) and the long-term declining trendline (around 1.3890) suggest a limited upside potential. The recent technical deteriorations favour a decline towards the support at 1.3296 (07/11/2013 low).

Daily Technical Report