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Dukascopy Forex Overview: 28-01-2015 - Afternoon

Dukascopy Bank analytic desk report
Published: 28/01/2015 17:53
Community Forecasts
Community khalidamassi on GBP/USD
““GBP/USD still moving around 1.5000 level, showing major monthly support and lowest level since 2013 at 1.4812 level. Unfortunately, I expect this week data may not help the pair to recover.”
Dukascopy Technical Analysis
EUR/JPY fails to break the 100% Fibonacci
“After what Europe’s been through, things need to settle down considerably before we can ask people to vote on the euro again.”
- Loekke Rasmussen (based on Bloomberg)
Generally, the JPY received back half of the losses from the previous day by retreating down for about 60 pips.
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Dukascopy Fundamental Analysis
AUD
Australian business conditions deteriorated in December, while sentiment remained weak, increasing pressure on the Reserve Bank of Australia to cut interest rates in the coming months.
Expert Commentary
"Lowering remittance costs and payment transaction fees is the only value-proposition for Bitcoin that makes sense."
-James Angel, Professor of Finance at Georgetown University, on Coinbase Inc. and Bitcoin
The decision to enter the mining industry is based on pure economics: is the value of the Bitcoins mined worth the cost of mining Bitcoins, mostly electricity and hardware? >>
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Press Review
FX Street
Copper treads waters ahead of Fed decision
Copper prices rebounded today, although remained close five and a half year lows as traders eagerly await outcome of the Federal Reserve's policy meeting later in the day for the timing of interest rare lift-off.
Market Research
Currency Index & Volatility: GBP
For the vast time of the period the British Pound’s volatility stayed well above the average level, only making small exceptions on Friday’s and Tuesday‘s mornings.
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Dukascopy Bank Sentiment Index
October’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
Japan’s share market rebounded on ECB QE decision
Japanese stocks managed to extend their gains comparing to the previous week’s harsh drop, helped by the European Central Bank’s announcement of bond-buying stimulus plan that forced investors' risk appetite, pushing bonds and stocks higher.
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Commodity Overview
Zinc and Aluminum Prices Appreciated
Aluminum prices increased in the beginning of the previous week by $27 to $1,825 thousand per tonne.
Trade Pattern Idea
EUR/JPY 1H Chart: Channel Down
The pair has just approached the upper trend-line of bearish pattern, which is expected to be tested for several times before any major future development of the cross takes place. >>

NZD/JPY 4H Chart: Channel Down
Despite the fact that the Kiwi/Yen cross formed the same pattern as the previous currency pair, bearish sentiment on it for the medium-term seems to be more pronounced. >>
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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 16:30 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.

“Whatever the ECB does on QE today, we welcome it with a smile.”


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