Commodity Prices

Gold •14 mins	2,413.80	+15.80	+0.66%
Platinum •14 mins	943.80	-10.70	-1.12%
WTI Crude •4 hours	83.14	+0.41	+0.50%
Gasoline •4 hours	2.710	-0.003	-0.13%
Ethanol •3 hours	2.161	+0.000	+0.00%
Silver •14 mins	28.84	+0.46	+1.63%

Silver • 14 mins	28.84	+0.46	+1.63%
Copper • 14 mins	4.498	+0.061	+1.37%
Brent Crude • 3 hours	87.29	+0.18	+0.21%
Natural Gas • 4 hours	1.752	-0.005	-0.28%
Heating Oil • 4 hours	2.541	+0.007	+0.29%

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EUR/USD: Testing the 200 Day Moving Average and the Short-Term Up Trendline

By - Oct 01, 2012, 5:17 AM CDT

EUR/USD failed to break its hourly resistance at 1.2971 (25/09/2012) last Friday. It is now testing again its 200 day moving average and the shortterm up trendline. Key horizontal support at 1.2755 (11/09/2012 low).

The lack of a base formation or sell-off suggests that the recent Euro strength is a rebound within an underlying downtrend. The current weakness near the 38.2% retracement of the decline from May 2011 to July 2012 suggests limited short-term upside potential and the start of a new down phase.

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