Commodity Prices

Gold •361 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,366.60	+14.70	+1.09%
WTI Crude •10 mins	65.23	-0.29	-0.44%
Gasoline •1 hour	2.089	-0.001	-0.02%
Ethanol •361 days	2.161	+0.000	+0.00%
Silver •361 days	30.82	+1.16	+3.92%

Silver • 361 days	30.82	+1.16	+3.92%
Copper • 361 days	4.530	+0.111	+2.51%
Brent Crude • 20 mins	67.54	-0.23	-0.34%
Natural Gas • 10 mins	3.582	-0.157	-4.20%
Heating Oil • 3 hours	2.321	+0.014	+0.60%

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EUR/USD - Further Extension Lower Favoured Towards 1.2288

By - Jun 28, 2012, 5:54 AM CDT

EUR/USD has met resistance close to 1.2515 as expected leading to a strong push lower towards 1.2400.

This now favours a further extension lower targeting the 1.2288 region once again.

The USD Index also appears strong in the short-term timeframe. However, we need to see a break over 82.89 (8 June high) to open up a full retrace to 83.542. This remains our central scenario, with a sustained push over this level then warning of a substantial extension higher.

We also note that from a weekly perspective, a sustained break under 1.2288 would target the support of a multi month falling channel somewhere in the region of 1.0800.

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