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Dukascopy Forex Overview: 22-10-2014 - Afternoon

Dukascopy Bank analytic desk report
Published: 22/10/2014 15:52
Community Forecasts
Community member therealforextrader on EUR/USD
“EUR/USD is in a long-term downtrend. Now it is making a corrective move and has formed 2 days of inside bars.”
Dukascopy Technical Analysis
NZD/USD
"We expect the dollar will likely remain top heavy for the time being.”
- Societe Generale (based on MarketWatch)
NZD/USD keeps attacking the resistance at 0.7970, formed by the four-month down-trend, monthly pivot point and 23.6% retracement of July-October decline.
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Dukascopy Fundamental Analysis
EUR
The European Central Bank is pondering to purchase corporate bonds on the secondary market and may make the corresponding decision as soon as December, several people familiar with a matter said.
Expert Commentary
"I suppose at the moment the most important question is, if the ECB comes back to QE program."
- Ulrich Leuchtman, Currency Strategist at Commerzbank, on the Euro zone economy and EUR
Industrial production is a volatile measure, however, it certainly points to the fact that we are seeing very weak growth in the Euro zone. >>
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Press Review
Josh Mitchell
Americans’ Social Security Benefits to Likely Increase 1.7% in 2015
Americans who receive Social Security benefits will see a modest increase in their checks next year to cover higher consumer prices...
Market Research
Currency Index & Volatility: CAD
The Canadian dollar could certainly be considered one of the most active currencies of the October 15-21 time period.
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Dukascopy Bank Sentiment Index
September’s release of Dukascopy Sentiment Index report shows that professors around the world remain pat on the global sentiment, as the corresponding short and long-term gauges were unchanged from the previous month.
Global Stock Market Review
Downward stock market trend in Europe continued last week
Stock market in Europe traded in a mixed environment during the working week ended October 17, as concerns over possible recession in the Eurozone negatively weighted on equity markets.
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Commodity Overview
Precious Metals Mixed on Unstable US Equity Market
Gold has extended its advance to two straight weeks by climbing 1.42%, after a five consecutive weekly losses. The week started off with a three daily gains, as the US Dollar continued to underperform compared with the previous weeks.
Trade Pattern Idea
USD/CAD 4H Chart: Channel Up
The Greenback has just bounced from the lower boundary of the channel up to continue trading in the bullish environment, as pattern’s support together with 100-period SMA at 1.1215 used to be too tough support line for pair’s bears. >>

AUD/CAD 1H Chart: Double Top
Australian Dollar formed a high-quality double top pattern, while the pair has a good chance to create a third top. >>
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Economic Research

Forecasting Models for Exchange Rate
The science of prognostics has been going through a rapid and fruitful development in the past decades, with various forecasting methods, procedures and approaches flooding the economic world. It is estimated that there are more than 100 prediction methods, and sometimes the diversity makes it difficult to choose the one that would do the trick.
Dukascopy Aggregate Technical Indicator
Dukascopy Bank presents a new research product - the aggregate technical indicator. The new tool will indicate the strongest signals on major currency pairs. Dukascopy Aggregate Technical Indicator for 30 min and 1H time frame charts for major pairs for the last 144 periods till 15:30 GMT.
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Disclaimer:
This overview can be used only for informational purposes. Dukascopy Bank SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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