Commodity Prices

Gold •708 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,695.80	+30.10	+1.81%
WTI Crude •11 mins	85.56	-2.15	-2.45%
Gasoline •11 mins	3.051	-0.050	-1.62%
Ethanol •708 days	2.161	+0.000	+0.00%
Silver •708 days	30.82	+1.16	+3.92%

Silver • 708 days	30.82	+1.16	+3.92%
Copper • 708 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	88.30	-2.08	-2.30%
Natural Gas • 11 mins	3.128	+0.041	+1.33%
Heating Oil • 11 mins	3.424	-0.090	-2.55%

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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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