Commodity Prices

Gold •507 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,524.20	+7.00	+0.46%
WTI Crude •1 day	58.06	-0.94	-1.59%
Gasoline •1 day	1.883	-0.035	-1.82%
Ethanol •507 days	2.161	+0.000	+0.00%
Silver •507 days	30.82	+1.16	+3.92%

Silver • 507 days	30.82	+1.16	+3.92%
Copper • 507 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	62.56	-0.82	-1.29%
Natural Gas • 1 day	4.580	+0.106	+2.37%
Heating Oil • 1 day	2.456	-0.077	-3.04%

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EUR/USD: Support at 1.2998 Has Held Thus Far

By - Feb 28, 2013, 5:09 AM CST

EUR/USD has broken a significant support at 1.3257 (16/01/2013 low, see also the rising trendline). However, the key support at 1.2998 (04/01/2013 low) has thus far held. The hourly resistance at 1.3145 (22/02/2013 low) is challenged. Another resistance is at 1.3319 (25/02/2013 high).

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. However, a failure to break the resistance at 1.3319 would favour a bearish head and shoulders formation.

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