Commodity Prices

Gold •419 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,346.90	-2.50	-0.19%
WTI Crude •10 mins	63.61	+0.36	+0.57%
Gasoline •10 mins	2.138	+0.016	+0.75%
Ethanol •419 days	2.161	+0.000	+0.00%
Silver •419 days	30.82	+1.16	+3.92%

Silver • 419 days	30.82	+1.16	+3.92%
Copper • 419 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	67.49	+0.27	+0.40%
Natural Gas • 10 mins	2.791	+0.074	+2.72%
Heating Oil • 12 mins	2.295	+0.014	+0.61%

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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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