Commodity Prices

Gold •134 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	952.00	+8.00	+0.85%
WTI Crude •10 mins	67.83	-0.87	-1.27%
Gasoline •11 mins	1.960	-0.022	-1.10%
Ethanol •134 days	2.161	+0.000	+0.00%
Silver •134 days	30.82	+1.16	+3.92%

Silver • 134 days	30.82	+1.16	+3.92%
Copper • 134 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	71.67	-0.89	-1.23%
Natural Gas • 10 mins	2.716	-0.069	-2.48%
Heating Oil • 11 mins	2.182	-0.031	-1.39%

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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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