Commodity Prices

Gold •484 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,593.90	-20.40	-1.26%
WTI Crude •11 mins	60.75	+0.18	+0.30%
Gasoline •13 mins	2.002	-0.001	-0.07%
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	65.04	+0.04	+0.06%
Natural Gas • 12 mins	4.032	+0.076	+1.92%
Heating Oil • 12 mins	2.418	-0.042	-1.71%

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EUR/USD: Break of the Hourly Support at 1.2891 Favours Further Weakness

By - Sep 26, 2012, 5:00 AM CDT

EUR/USD broke its hourly support at 1.2891 (24/09/2012 low) yesterday. A further corrective phase is favoured and should lead to a test of the support at 1.2755 (11/09/2012 low, see also 38.2% retracement from previous rise) in the short-term. Hourly resistance is at 1.2971.

The lack of a base formation or sell-off suggests that the recent Euro strength is a rebound within an underlying downtrend. The current weakness near the 38.2% retracement of the decline from May 2011 to July 2012 suggests limited short-term upside potential and the start of a new down phase.

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