Commodity Prices

Gold •484 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,593.40	-20.90	-1.29%
WTI Crude •11 mins	60.33	-0.24	-0.40%
Gasoline •13 mins	1.986	-0.017	-0.85%
Ethanol •484 days	2.161	+0.000	+0.00%
Silver •484 days	30.82	+1.16	+3.92%

Silver • 484 days	30.82	+1.16	+3.92%
Copper • 484 days	4.530	+0.111	+2.51%
Brent Crude • 12 mins	64.77	-0.23	-0.35%
Natural Gas • 11 mins	4.084	+0.128	+3.24%
Heating Oil • 1 hour	2.410	-0.050	-2.03%

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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.

Daily Technical Report