Commodity Prices

Gold •422 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,370.50	+8.80	+0.65%
WTI Crude •4 hours	64.01	-0.59	-0.91%
Gasoline •6 hours	2.188	-0.012	-0.52%
Ethanol •422 days	2.161	+0.000	+0.00%
Silver •422 days	30.82	+1.16	+3.92%

Silver • 422 days	30.82	+1.16	+3.92%
Copper • 422 days	4.530	+0.111	+2.51%
Brent Crude • 6 hours	68.12	-0.50	-0.73%
Natural Gas • 4 hours	2.997	+0.053	+1.80%
Heating Oil • 6 hours	2.267	-0.043	-1.87%

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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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