Commodity Prices

Gold •484 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,575.20	-39.10	-2.42%
WTI Crude •11 mins	60.60	+0.03	+0.05%
Gasoline •49 mins	1.982	-0.021	-1.05%
Ethanol •484 days	2.161	+0.000	+0.00%
Silver •484 days	30.82	+1.16	+3.92%

Silver • 484 days	30.82	+1.16	+3.92%
Copper • 484 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	65.03	+0.03	+0.05%
Natural Gas • 11 mins	4.058	+0.102	+2.58%
Heating Oil • 33 mins	2.426	-0.034	-1.38%

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EUR/USD: Testing the 200 Day Moving Average and the Short-Term Up Trendline

By - Oct 01, 2012, 5:17 AM CDT

EUR/USD failed to break its hourly resistance at 1.2971 (25/09/2012) last Friday. It is now testing again its 200 day moving average and the shortterm up trendline. Key horizontal support at 1.2755 (11/09/2012 low).

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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