Commodity Prices

Gold •852 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,432.40	-22.00	-1.51%
WTI Crude •11 mins	98.02	+1.56	+1.62%
Gasoline •11 mins	2.935	+0.035	+1.22%
Ethanol •852 days	2.161	+0.000	+0.00%
Silver •852 days	30.82	+1.16	+3.92%

Silver • 852 days	30.82	+1.16	+3.92%
Copper • 852 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	106.52	+1.75	+1.67%
Natural Gas • 11 mins	2.885	+0.029	+1.02%
Heating Oil • 12 mins	4.489	+0.067	+1.51%

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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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