Commodity Prices

Gold •362 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,372.80	+29.80	+2.22%
WTI Crude •10 mins	64.94	-0.17	-0.26%
Gasoline •7 hours	2.080	-0.010	-0.48%
Ethanol •362 days	2.161	+0.000	+0.00%
Silver •362 days	30.82	+1.16	+3.92%

Silver • 362 days	30.82	+1.16	+3.92%
Copper • 362 days	4.530	+0.111	+2.51%
Brent Crude • 7 hours	67.61	-0.16	-0.24%
Natural Gas • 10 mins	3.467	+0.011	+0.32%
Heating Oil • 7 hours	2.346	+0.039	+1.67%

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EUR/USD: Strong Resistance at 1.3004 Breached

By - Sep 14, 2012, 5:45 AM CDT

EUR/USD has burst higher yesterday. The strong resistance at 1.3004 (which is also a psychological level) is failing, thus far, to cap Euro appreciation. The next strong horizontal resistance is at 1.3284. Hourly support is at 1.2977.

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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