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Dukascopy Forex Overview: 24-10-2014 - Afternoon

Dukascopy Bank analytic desk report
Published: 24/10/2014 15:40
Community Forecasts
Community member RacerX on USD/JPY
“The decline of the Buck against the Yen today not withstanding, I have bullish expectations for this pair.”
Dukascopy Technical Analysis
EUR/JPY
"For the week as whole, the yen is still weaker, as safe-haven-driven gains from last week have reversed.”
- Bank of Tokyo-Mitsubishi UFJ (based on Bloomberg)
The falling resistance line, which has kept EUR/JPY bearish since Sep 19, was breached yesterday.
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Dukascopy Fundamental Analysis
GBP
Retail sales in Britain declined more than expected in September, as clothing sales experienced the biggest decrease since April 2012.
Expert Commentary
"The SNB are worried, and the last thing they need right now is the appreciation of exchange rate."
- Banco Bilbao Vizcaya Argentina SA on Swiss economy
...Can we say that the Swiss economy is under a serious risk of a downward trend? >>
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Press Review
Lily Kuo
Hong Kong’s pro-democracy protesters are holding a vote of their own
The Umbrella Movement is implementing some democracy of its own. Organizers are holding a referendum on Oct. 26 over whether the protesters should accept the government’s peace offering, made earlier this week.
Market Research
Currency Index & Volatility: EUR
After holding above the baseline for the past two weeks, the EUR Index turned to weaken and ended the period with the greatest weekly loss since the beginning of October.
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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/PLN 1H Chart: Channel Up
Even though the present currency pair has been hovering sideways for past couple of hours, it is constantly moving away from the upper boundary of the pattern. >>

GBP/USD 4H Chart: Broadening Falling Wedge
The Pound has been developing in a clear bearish trend after a touch of the upper trend-line at 1.6168. >>
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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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