Commodity Prices

Gold •839 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,644.60	-11.90	-0.72%
WTI Crude •11 mins	98.90	+1.08	+1.10%
Gasoline •13 mins	3.153	+0.036	+1.15%
Ethanol •839 days	2.161	+0.000	+0.00%
Silver •839 days	30.82	+1.16	+3.92%

Silver • 839 days	30.82	+1.16	+3.92%
Copper • 839 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	110.11	+1.32	+1.21%
Natural Gas • 11 mins	2.932	-0.031	-1.05%
Heating Oil • 15 mins	5.024	+0.099	+2.00%

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EUR/USD: Decline is Approaching First Key Support Area

By - Sep 27, 2012, 5:16 AM CDT

EUR/USD continues to weaken since its high at 1.3172 (17/09/2012). Prices are now approaching the support area near 1.2755 (11/09/2012 low, see also 38.2% retracement from previous rise and up trendline). Hourly resistance is at 1.2971 (25/09/2012).

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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