"No warning can save people determined to grow suddenly rich" - Lord Overstone
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Gold •141 days | 2,368.70 | +35.30 | +1.51% |
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Platinum •15 mins | 969.30 | -1.20 | -0.12% |
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WTI Crude •10 mins | 69.77 | -0.33 | -0.47% |
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Gasoline •10 mins | 2.048 | -0.011 | -0.55% |
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Ethanol •141 days | 2.161 | +0.000 | +0.00% |
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Silver •141 days | 30.82 | +1.16 | +3.92% |
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Silver • 141 days | 30.82 | +1.16 | +3.92% | |
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Copper • 141 days | 4.530 | +0.111 | +2.51% | |
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Brent Crude • 10 mins | 73.92 | -0.31 | -0.42% | |
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Natural Gas • 10 mins | 3.262 | -0.077 | -2.31% | |
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Heating Oil • 11 mins | 2.257 | -0.017 | -0.75% |
The Economic Community of West…
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Wells Fargo has done it…
EUR/USD moved higher yesterday. It is now close to the high of its rising wedge (a bearish technical pattern) but also to its down trendline. Note also the strong horizontal resistance at 1.2748 (18/06/2012 high).
Given the lack of base formation, the recent strength in EUR is seen as a rebound within an underlying downtrend. We would therefore look at signs of weakness coupled with overbought conditions to initiate a new short EUR position.
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