Commodity Prices

Gold •463 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,667.80	-33.00	-1.94%
WTI Crude •11 mins	61.45	-1.10	-1.76%
Gasoline •11 mins	1.877	-0.032	-1.69%
Ethanol •463 days	2.161	+0.000	+0.00%
Silver •463 days	30.82	+1.16	+3.92%

Silver • 463 days	30.82	+1.16	+3.92%
Copper • 463 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	65.14	-1.11	-1.68%
Natural Gas • 11 mins	3.241	-0.092	-2.76%
Heating Oil • 11 mins	2.275	-0.016	-0.69%

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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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