Commodity Prices

Gold •10 mins	1,779.30	+2.80	+0.16%
Platinum •10 mins	941.70	+14.40	+1.55%
WTI Crude •10 mins	67.70	+1.52	+2.30%
Gasoline •4 hours	1.980	-0.097	-4.67%
Ethanol •24 mins	2.207	+0.000	+0.00%
Silver •10 mins	22.86	+0.04	+0.18%

Silver • 10 mins	22.86	+0.04	+0.18%
Copper • 10 mins	4.340	+0.060	+1.39%
Brent Crude • 5 hours	70.57	-2.87	-3.91%
Natural Gas • 10 mins	4.590	+0.023	+0.50%
Heating Oil • 4 hours	2.064	-0.088	-4.10%

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EUR/USD: Exhaustion in Short-Term Selling Pressures

By - Jun 06, 2014, 4:50 AM CDT

EUR/USD made an intraday bullish reversal on Thursday, indicating exhaustion in the short-term selling pressures. Resistances can now be found at 1.3688 (22/05/2014 high) and 1.3734 (19/05/2014 high). Hourly supports lie at 1.3586 (29/05/2014 low) and 1.3503 (05/06/2014 low).

In the longer term, the break of the long-term rising wedge (see also the support at 1.3673) indicates a clear deterioration of the technical structure. The long-term downside risk implied by the double-top formation is 1.3379. Key supports can be found at 1.3477 (03/02/2014 low) and 1.3296 (07/11/2013 low).

Daily Technical Report