Commodity Prices

Gold •686 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,961.50	+1.90	+0.10%
WTI Crude •11 mins	98.93	+0.67	+0.68%
Gasoline •16 mins	3.490	+0.003	+0.07%
Ethanol •686 days	2.161	+0.000	+0.00%
Silver •686 days	30.82	+1.16	+3.92%

Silver • 686 days	30.82	+1.16	+3.92%
Copper • 686 days	4.530	+0.111	+2.51%
Brent Crude • 2 hours	105.02	-6.26	-5.63%
Natural Gas • 11 mins	3.040	+0.036	+1.20%
Heating Oil • 18 mins	3.949	+0.002	+0.06%

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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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