Commodity Prices

Gold •644 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,030.00	-37.50	-1.81%
WTI Crude •11 mins	97.74	+3.33	+3.53%
Gasoline •11 mins	3.049	+0.043	+1.42%
Ethanol •644 days	2.161	+0.000	+0.00%
Silver •644 days	30.82	+1.16	+3.92%

Silver • 644 days	30.82	+1.16	+3.92%
Copper • 644 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	97.28	+2.53	+2.67%
Natural Gas • 11 mins	2.717	-0.007	-0.26%
Heating Oil • 11 mins	3.943	+0.135	+3.54%

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EUR/USD: Bouncing on the 200 Day Moving Average

By - Sep 28, 2012, 5:43 AM CDT

EUR/USD bounced on its 200 day moving average yesterday. Monitor the hourly resistance 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.

Daily Technical Report