Commodity Prices

Gold •376 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,424.70	+6.70	+0.47%
WTI Crude •10 mins	66.54	-0.44	-0.66%
Gasoline •11 mins	2.159	-0.006	-0.28%
Ethanol •376 days	2.161	+0.000	+0.00%
Silver •376 days	30.82	+1.16	+3.92%

Silver • 376 days	30.82	+1.16	+3.92%
Copper • 376 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	68.90	-0.31	-0.45%
Natural Gas • 10 mins	3.433	-0.033	-0.95%
Heating Oil • 10 mins	2.381	-0.008	-0.35%

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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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