Commodity Prices

Gold •681 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,991.80	-99.60	-4.76%
WTI Crude •14 hours	105.42	+4.25	+4.20%
Gasoline •14 hours	3.702	+0.096	+2.67%
Ethanol •681 days	2.161	+0.000	+0.00%
Silver •681 days	30.82	+1.16	+3.92%

Silver • 681 days	30.82	+1.16	+3.92%
Copper • 681 days	4.530	+0.111	+2.51%
Brent Crude • 13 hours	109.26	+3.54	+3.35%
Natural Gas • 14 hours	2.960	+0.066	+2.28%
Heating Oil • 14 hours	4.053	+0.148	+3.78%

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EUR/USD: Pausing After a Sharp Rise

By - Sep 18, 2012, 5:51 AM CDT

EUR/USD has moved sideways after breaking the strong resistance at 1.3004. The current mild correction suggests a continued weak selling pressure. Short-term support is at 1.3022. The next strong horizontal resistance is at 1.3284 (see also down trendline).

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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