Commodity Prices

Gold •294 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	979.40	-0.20	-0.02%
WTI Crude •10 mins	62.19	-0.08	-0.13%
Gasoline •12 mins	2.078	-0.006	-0.29%
Ethanol •294 days	2.161	+0.000	+0.00%
Silver •294 days	30.82	+1.16	+3.92%

Silver • 294 days	30.82	+1.16	+3.92%
Copper • 294 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.03	-0.09	-0.14%
Natural Gas • 10 mins	2.980	-0.042	-1.39%
Heating Oil • 22 mins	2.125	-0.002	-0.09%

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EUR/USD: Hourly Double-Bottom Validated

By - Mar 08, 2013, 5:41 AM CST

EUR/USD has broken the hourly resistance at 1.3075 (05/03/2013 high), validating an hourly double-bottom. A test of the resistance at 1.3162 (28/02/2013 high, see also the declining trendline) is likely. An hourly support is at 1.3071 (06/03/2013 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 break of the support at 1.2967 (01/03/2013 low) would open the way for a medium-term decline toward the strong support at 1.2662 (13/11/2012 low).

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