Commodity Prices

Gold •15 mins	2,345.30	+6.90	+0.30%
Platinum •15 mins	917.80	+2.00	+0.22%
WTI Crude •10 mins	82.28	-0.53	-0.64%
Gasoline •10 mins	2.720	-0.014	-0.53%
Ethanol •18 hours	2.161	+0.000	+0.00%
Silver •15 mins	27.39	+0.04	+0.14%

Silver • 15 mins	27.39	+0.04	+0.14%
Copper • 15 mins	4.544	+0.058	+1.28%
Brent Crude • 10 mins	87.58	-0.44	-0.50%
Natural Gas • 10 mins	1.634	-0.019	-1.15%
Heating Oil • 10 mins	2.526	-0.024	-0.93%

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EUR/USD - Recent Strength Still Viewed as Temporary

By - Jul 09, 2014, 6:04 AM CDT

EUR/USD is bouncing. The hourly resistance at 1.3621 has been breached. However, we continue to favour an eventual decline towards the support at 1.3503 as long as prices remain below the resistance at 1.3664 (03/07/2014 high). An hourly support can now be found at 1.3576.

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. A long-term downside risk at 1.3379 (implied by the double-top formation) is favoured as long as prices remain below the resistance at 1.3775. Key supports can be found at 1.3477 (03/02/2014 low) and 1.3296 (07/11/2013 low).

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