Commodity Prices

Gold •319 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	989.20	-1.00	-0.10%
WTI Crude •12 mins	62.17	-0.32	-0.51%
Gasoline •10 mins	2.133	-0.009	-0.42%
Ethanol •319 days	2.161	+0.000	+0.00%
Silver •319 days	30.82	+1.16	+3.92%

Silver • 319 days	30.82	+1.16	+3.92%
Copper • 319 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	65.04	-0.37	-0.57%
Natural Gas • 10 mins	3.243	-0.091	-2.73%
Heating Oil • 10 mins	2.137	-0.003	-0.15%

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EURO Rebounds Above 1.3250

By - Feb 08, 2012, 5:24 AM CST

EUR/USD is holding steady today after yesterdayâ€™s sharp rebound above the key level at 1.3250 (38.2% Fib Oct/Jan Decline).

Further sustained confirmation above 1.3250 unlocks an extended recovery into our target zones at 1.3440/60 and 1.3548 (02nd Dec high). We have opened a buy stop order in anticipation of this scenario.

Meanwhile, the bears need to push back beneath 1.3000 (psychological support), then 1.2879 in order to resume the major downtrend lower.

Inversely, the USD Index is holding steady above key support level around 79.10, ahead of 78.30. The pullback had unwound historic speculative net long positions from the month of January (which tends to be seasonally positive for the US dollar).

Expect these levels to act as two of the last points of defence for a potential re-launch of the greenbackâ€™s recovery which is still part of our bullish cycle strategy for a further 20% gain over the multi-month period.

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