Commodity Prices

Gold •364 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,422.40	-11.10	-0.77%
WTI Crude •10 mins	66.95	-0.50	-0.74%
Gasoline •13 mins	2.110	-0.013	-0.63%
Ethanol •364 days	2.161	+0.000	+0.00%
Silver •364 days	30.82	+1.16	+3.92%

Silver • 364 days	30.82	+1.16	+3.92%
Copper • 364 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	68.58	-0.53	-0.77%
Natural Gas • 10 mins	3.500	+0.012	+0.34%
Heating Oil • 11 mins	2.403	-0.009	-0.38%

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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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