Commodity Prices

Gold •299 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	994.20	-1.00	-0.10%
WTI Crude •10 mins	61.38	-0.67	-1.08%
Gasoline •14 mins	2.092	-0.014	-0.65%
Ethanol •299 days	2.161	+0.000	+0.00%
Silver •299 days	30.82	+1.16	+3.92%

Silver • 299 days	30.82	+1.16	+3.92%
Copper • 299 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	65.17	-0.69	-1.05%
Natural Gas • 10 mins	3.334	-0.009	-0.27%
Heating Oil • 15 mins	2.158	-0.017	-0.79%

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EUR/USD Unwinding From Oversold Conditions

By - Jun 06, 2012, 6:25 AM CDT

EUR/USD is continuing to unwind from oversold conditions, following the worst-than expected US non-farm payrolls, which triggered economic recovery concerns last week.

Near-term resistance is likely to cap at 1.2590, then 1.2650 and 1.2824 (22nd May). Only a sustained move at these levels would neutralize the extreme market condition.

In terms of the big picture, key structural support remains at 1.2125/30, which would equate to EUR/USD losing half of its gains from the bull market taken from the year 2000.

Inversely, the USD Index still unwinding from overbought conditions, after already gaining over 5% in just 3 weeks. Key support can be found at 81.78 (13th Jan peak).

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