Commodity Prices

Gold •298 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	992.80	+19.90	+2.05%
WTI Crude •10 mins	62.45	-0.57	-0.90%
Gasoline •10 mins	2.113	-0.006	-0.27%
Ethanol •298 days	2.161	+0.000	+0.00%
Silver •298 days	30.82	+1.16	+3.92%

Silver • 298 days	30.82	+1.16	+3.92%
Copper • 298 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.28	-0.59	-0.88%
Natural Gas • 19 mins	3.061	+0.124	+4.22%
Heating Oil • 10 mins	2.188	+0.021	+0.96%

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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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