Commodity Prices

Gold •235 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	992.40	+4.70	+0.48%
WTI Crude •10 mins	70.34	-0.06	-0.09%
Gasoline •23 mins	2.035	+0.008	+0.39%
Ethanol •235 days	2.161	+0.000	+0.00%
Silver •235 days	30.82	+1.16	+3.92%

Silver • 235 days	30.82	+1.16	+3.92%
Copper • 235 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	74.45	+0.02	+0.03%
Natural Gas • 10 mins	4.022	-0.212	-5.01%
Heating Oil • 10 mins	2.425	-0.007	-0.30%

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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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