Commodity Prices

Gold •372 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,430.70	+18.20	+1.29%
WTI Crude •10 mins	66.58	+0.01	+0.02%
Gasoline •10 mins	2.143	-0.010	-0.44%
Ethanol •372 days	2.161	+0.000	+0.00%
Silver •372 days	30.82	+1.16	+3.92%

Silver • 372 days	30.82	+1.16	+3.92%
Copper • 372 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	68.62	-0.02	-0.03%
Natural Gas • 10 mins	3.342	+0.005	+0.15%
Heating Oil • 10 mins	2.385	+0.001	+0.05%

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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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