Commodity Prices

Gold •749 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,648.50	+10.60	+0.65%
WTI Crude •11 mins	86.76	+2.42	+2.87%
Gasoline •13 mins	3.419	+0.013	+0.38%
Ethanol •749 days	2.161	+0.000	+0.00%
Silver •749 days	30.82	+1.16	+3.92%

Silver • 749 days	30.82	+1.16	+3.92%
Copper • 749 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	94.10	+3.09	+3.40%
Natural Gas • 11 mins	2.944	+0.079	+2.76%
Heating Oil • 11 mins	4.149	+0.022	+0.53%

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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