Commodity Prices

Gold •710 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,712.20	+46.50	+2.79%
WTI Crude •1 day	84.88	-2.83	-3.23%
Gasoline •1 day	3.050	-0.052	-1.66%
Ethanol •711 days	2.161	+0.000	+0.00%
Silver •710 days	30.82	+1.16	+3.92%

Silver • 710 days	30.82	+1.16	+3.92%
Copper • 710 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	87.33	-3.05	-3.37%
Natural Gas • 1 day	3.120	+0.033	+1.07%
Heating Oil • 1 day	3.404	-0.109	-3.09%

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EUR/USD: Declining Sharply

By - May 12, 2014, 5:54 AM CDT

EUR/USD has declined sharply after its bearish reversal near the key resistance at 1.3967. The support at 1.3780 has been broken. A key support lies at 1.3673 (see also the rising wedge). Resistances for a short-term rebound are given by 1.3812 (02/05/2014 low) and 1.3871 (intraday high).

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. A break of the key support at 1.3643 (27/02/2014 low) is needed to confirm a long-term bearish trend reversal.

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