Commodity Prices

Gold •774 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,775.10	+18.20	+1.04%
WTI Crude •11 mins	82.64	+0.24	+0.29%
Gasoline •12 mins	3.187	+0.003	+0.08%
Ethanol •774 days	2.161	+0.000	+0.00%
Silver •774 days	30.82	+1.16	+3.92%

Silver • 774 days	30.82	+1.16	+3.92%
Copper • 774 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	89.03	+0.51	+0.58%
Natural Gas • 11 mins	2.660	-0.073	-2.67%
Heating Oil • 11 mins	4.319	+0.036	+0.84%

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EUR/USD: Pushing Higher Through the 200-Day Moving Average

By - Sep 12, 2012, 5:32 AM CDT

EUR/USD continues to move higher despite deep overbought conditions. The resistance implied by the 200-day moving average has been breached. The next resistance is the 15 March low (1.3004). Support is at 1.2755 (11/09/2012 low).

The lack of base formation or sell-off suggests that the current strength in EUR is a rebound within an underlying downtrend. Given the current overbought conditions, we are waiting for signs of weakness to initiate a short EUR position.

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