Commodity Prices

Gold •637 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,966.20	-4.00	-0.20%
WTI Crude •11 mins	99.47	-1.91	-1.88%
Gasoline •11 mins	3.080	-0.124	-3.86%
Ethanol •637 days	2.161	+0.000	+0.00%
Silver •637 days	30.82	+1.16	+3.92%

Silver • 637 days	30.82	+1.16	+3.92%
Copper • 637 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	100.89	-3.08	-2.96%
Natural Gas • 11 mins	2.816	-0.068	-2.36%
Heating Oil • 12 mins	4.059	-0.055	-1.33%

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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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