Commodity Prices

Gold •134 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	942.60	-1.40	-0.15%
WTI Crude •11 mins	68.50	-0.20	-0.29%
Gasoline •11 mins	1.971	-0.011	-0.54%
Ethanol •134 days	2.161	+0.000	+0.00%
Silver •134 days	30.82	+1.16	+3.92%

Silver • 134 days	30.82	+1.16	+3.92%
Copper • 134 days	4.530	+0.111	+2.51%
Brent Crude • 2 hours	72.56	+0.28	+0.39%
Natural Gas • 10 mins	2.763	-0.022	-0.79%
Heating Oil • 19 mins	2.205	-0.008	-0.35%

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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.

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