Commodity Prices

Gold •383 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,496.20	+39.60	+2.72%
WTI Crude •14 mins	67.06	-0.28	-0.42%
Gasoline •11 mins	2.125	-0.028	-1.32%
Ethanol •383 days	2.161	+0.000	+0.00%
Silver •383 days	30.82	+1.16	+3.92%

Silver • 383 days	30.82	+1.16	+3.92%
Copper • 383 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	69.05	-0.23	-0.33%
Natural Gas • 10 mins	3.316	-0.249	-6.98%
Heating Oil • 10 mins	2.500	+0.047	+1.90%

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EUR/USD: Bursting Higher Through the Resistance at 1.3004

By - Sep 17, 2012, 4:15 AM CDT

EUR/USD continues to move sharply higher. The strong resistance at 1.3004 has been broken. The next strong horizontal resistance is at 1.3284 (see also down trendline). Hourly support is at 1.3022.

The lack of base formation or sell-off suggests that the current strength in EUR is a rebound within an underlying downtrend. Given the resistances area between 1.3150 and 1.3491 (38.2% and 50% retracements of the decline from May 2011 to July 2012), we are waiting for signs of weakness to initiate a short EUR position.

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