Hysterical short-covering in the euro yesterday is said to have been the cause of yesterday’s plunge in commodities, including gold and silver, and the drubbing of the dollar.  The jury is still out on the rally’s staying power, however, since it failed to generate a bullish impulse leg on the daily chart (see inset).  That could change as early as today with a push touching 1.2685 — about 1% above yesterday’s high.