Commodity Prices

Gold •421 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,359.80	-1.90	-0.14%
WTI Crude •11 mins	64.11	-0.49	-0.76%
Gasoline •26 mins	2.188	-0.011	-0.51%
Ethanol •421 days	2.161	+0.000	+0.00%
Silver •421 days	30.82	+1.16	+3.92%

Silver • 421 days	30.82	+1.16	+3.92%
Copper • 421 days	4.530	+0.111	+2.51%
Brent Crude • 15 mins	68.13	-0.49	-0.71%
Natural Gas • 11 mins	2.977	+0.033	+1.12%
Heating Oil • 11 mins	2.275	-0.034	-1.49%

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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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