Commodity Prices

Gold •169 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	923.20	-11.40	-1.22%
WTI Crude •11 mins	70.07	-0.51	-0.72%
Gasoline •10 mins	1.920	-0.023	-1.18%
Ethanol •169 days	2.161	+0.000	+0.00%
Silver •169 days	30.82	+1.16	+3.92%

Silver • 169 days	30.82	+1.16	+3.92%
Copper • 169 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	72.71	-0.68	-0.93%
Natural Gas • 10 mins	3.553	+0.179	+5.31%
Heating Oil • 10 mins	2.237	-0.018	-0.78%

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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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