Commodity Prices

Gold •485 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,580.30	-34.00	-2.11%
WTI Crude •11 mins	60.92	+0.35	+0.58%
Gasoline •11 mins	1.986	-0.017	-0.86%
Ethanol •485 days	2.161	+0.000	+0.00%
Silver •485 days	30.82	+1.16	+3.92%

Silver • 485 days	30.82	+1.16	+3.92%
Copper • 485 days	4.530	+0.111	+2.51%
Brent Crude • 13 mins	65.04	+0.04	+0.06%
Natural Gas • 11 mins	4.112	+0.156	+3.94%
Heating Oil • 11 mins	2.428	-0.032	-1.28%

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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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