Commodity Prices

Gold •604 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,378.00	+138.40	+6.18%
WTI Crude •11 mins	67.27	+2.06	+3.16%
Gasoline •2 hours	2.068	+0.036	+1.77%
Ethanol •604 days	2.161	+0.000	+0.00%
Silver •604 days	30.82	+1.16	+3.92%

Silver • 604 days	30.82	+1.16	+3.92%
Copper • 604 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	73.17	+2.33	+3.29%
Natural Gas • 11 mins	2.863	+0.036	+1.27%
Heating Oil • 2 hours	2.636	+0.023	+0.88%

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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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