Commodity Prices

Gold •816 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,749.90	-47.80	-2.66%
WTI Crude •11 mins	93.76	+1.35	+1.46%
Gasoline •50 mins	3.405	+0.012	+0.34%
Ethanol •816 days	2.161	+0.000	+0.00%
Silver •816 days	30.82	+1.16	+3.92%

Silver • 816 days	30.82	+1.16	+3.92%
Copper • 816 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	106.58	+2.26	+2.17%
Natural Gas • 2 hours	3.047	-0.149	-4.66%
Heating Oil • 23 mins	4.796	+0.111	+2.38%

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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.

Daily Technical Report