Commodity Prices

Gold •172 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	935.70	-0.70	-0.07%
WTI Crude •10 mins	69.70	+0.24	+0.35%
Gasoline •14 mins	1.948	+0.007	+0.35%
Ethanol •172 days	2.161	+0.000	+0.00%
Silver •172 days	30.82	+1.16	+3.92%

Silver • 172 days	30.82	+1.16	+3.92%
Copper • 172 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	73.14	+0.20	+0.27%
Natural Gas • 10 mins	3.862	+0.114	+3.04%
Heating Oil • 10 mins	2.247	+0.015	+0.67%

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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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