Commodity Prices

Gold •690 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,974.00	+34.30	+1.77%
WTI Crude •11 mins	90.87	-5.73	-5.93%
Gasoline •18 mins	3.269	-0.185	-5.35%
Ethanol •690 days	2.161	+0.000	+0.00%
Silver •690 days	30.82	+1.16	+3.92%

Silver • 690 days	30.82	+1.16	+3.92%
Copper • 690 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	97.68	-5.86	-5.66%
Natural Gas • 11 mins	2.869	-0.038	-1.31%
Heating Oil • 13 mins	3.728	-0.160	-4.11%

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EUR/USD: Hourly Bullish Head and Shoulders Validated

By - Feb 13, 2013, 5:50 AM CST

EUR/USD has broken the resistance at 1.3429 (08/02/2013 high), validating a short-term bullish head and shoulders with an implied target at 1.3533. Hourly resistances are at 1.3476 (12/02/2013 high) and 1.3578. An hourly support can be found at 1.3410 (intraday low, see also short-term rising trendline).

In the bigger multi-week time frame we note that the higher low in July 2012 (compared to July 2010) and the recent new high above the strong resistance at 1.3487 (24/02/2012 high) indicates an improvement in the underlying trend. A move towards 1.3791 (measured move implied by the 1.2043 to 1.3172 rise from the retracement at 1.2662) remains likely. A strong resistance is at 1.4247 (27/10/2011 high).

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