Commodity Prices

Gold •493 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,549.10	+11.50	+0.75%
WTI Crude •1 day	59.75	+0.32	+0.54%
Gasoline •1 day	1.940	-0.025	-1.29%
Ethanol •493 days	2.161	+0.000	+0.00%
Silver •493 days	30.82	+1.16	+3.92%

Silver • 493 days	30.82	+1.16	+3.92%
Copper • 493 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	63.63	+0.25	+0.39%
Natural Gas • 1 day	4.315	-0.042	-0.96%
Heating Oil • 1 day	2.482	-0.014	-0.56%

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EUR/USD: Bullish Breakout at 1.2748

By - Sep 10, 2012, 4:50 AM CDT

EUR/USD has broken its strong resistance at 1.2748 (see also down trendline and rising wedge). The next resistances are given by the 200-day moving average and the 15 March low (1.3004). Hourly support at 1.2697.

Given the lack of base formation or sell-off, the current strength in EUR is seen as a rebound within an underlying downtrend. Given the current overbought conditions, we are looking at signs of weakness to initiate a new short EUR position.

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