Commodity Prices

Gold •404 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,341.20	-2.30	-0.17%
WTI Crude •11 mins	64.12	+0.16	+0.25%
Gasoline •14 mins	2.082	+0.006	+0.28%
Ethanol •404 days	2.161	+0.000	+0.00%
Silver •404 days	30.82	+1.16	+3.92%

Silver • 404 days	30.82	+1.16	+3.92%
Copper • 404 days	4.530	+0.111	+2.51%
Brent Crude • 1 hour	66.63	+0.04	+0.06%
Natural Gas • 11 mins	2.982	+0.028	+0.95%
Heating Oil • 17 mins	2.289	-0.002	-0.08%

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EUR/USD: Bullish Breakout of The Key Resistance at 1.3906

By - May 07, 2014, 5:17 AM CDT

EUR/USD has broken to the upside out of its recent consolidation between 1.3780 (09/04/2014 low) and 1.3906 (11/04/2014 high), opening the way for a test of the key resistance at 1.3967. Hourly supports can be found at 1.3906 (previous resistance) and 1.3865 (05/05/2014 low).

In the longer term, EUR/USD is still in a succession of higher highs and higher lows. However, the recent marginal new highs (suggesting a potential long-term rising wedge) indicate an exhausted rise. As a result, we see a medium-term limited upside potential, especially given the key resistance at 1.3967 (13/03/2014 high) and the increasing overbought conditions.

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