Commodity Prices

Gold •20 mins	2,381.20	-7.20	-0.30%
Platinum •20 mins	949.60	-4.60	-0.48%
WTI Crude •10 mins	82.67	-0.02	-0.02%
Gasoline •13 mins	2.726	-0.003	-0.11%
Ethanol •5 hours	2.161	+0.000	+0.00%
Silver •20 mins	28.29	-0.12	-0.40%

Silver • 20 mins	28.29	-0.12	-0.40%
Copper • 20 mins	4.335	-0.005	-0.10%
Brent Crude • 10 mins	87.37	+0.08	+0.09%
Natural Gas • 12 mins	1.737	+0.025	+1.46%
Heating Oil • 13 mins	2.573	-0.002	-0.08%

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EUR/USD: Hourly Double-Bottom Validated

By - Mar 08, 2013, 5:41 AM CST

EUR/USD has broken the hourly resistance at 1.3075 (05/03/2013 high), validating an hourly double-bottom. A test of the resistance at 1.3162 (28/02/2013 high, see also the declining trendline) is likely. An hourly support is at 1.3071 (06/03/2013 high).

In the bigger multi-week time frame we note that the higher low in July 2012 (compared to July 2010) and the recent new high above the strong resistance at 1.3487 (24/02/2012 high) indicates an improvement in the underlying trend. However, a break of the support at 1.2967 (01/03/2013 low) would open the way for a medium-term decline toward the strong support at 1.2662 (13/11/2012 low).

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