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Dukascopy Forex Overview: 28-04-2017 - Afternoon

Dukascopy Bank analytic desk report
Published: 28/04/2017 13:50
Dukascopy Technical Analysis

USD/CAD makes another attempt
"In the event of bearish reversal, traders should first look for the USD/CAD to trade back below 1.3600."
- Walker England, Daily FX
On Friday the US Dollar against the Canadian Dollar attempted once more to break through the resistance put up by the monthly R2, which is located at the 1.3643 level. By the middle of the day the resistance was broken.
Dukascopy Fundamental Analysis
Orders for US-produced durable goods grow less than expected
Orders for US-manufactured goods rose less than experts estimated in March, official figures revealed on Thursday. The US Department of Commerce reported that orders for durable goods in March soared only 0.7%, following the previous month's increase of 1.8%. Excluding transportation items, orders for core durable goods plunged 0.2%, while analysts anticipated 0.4% growth. This negative figure represented the first decline since June 2016.
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Trade Pattern Idea
AUD/NZD 4H Chart: Channel Up
Recently the Australian Dollar broke a medium term descending channel pattern against the New Zealand Dollar.>>

EUR/HKD 1D Chart: Channel Up
Following a slight break below the 2015 low at 8.1519 - the lowest level of all time, HKD/JPY set a new ultimate support at 8.0680 and sketched a channel up pattern on the daily scale to lead it up above the area.>>
Expert Commentary
"At the moment, it is hard to say whether the energy industry is really going to surge forward thanks to Trump’s regulations."
- Fadel Gheit, Senior Energy Strategist at Oppenheimer&Co, on energy industry and oil prices
Still, with relatively low oil prices, the industry is not going to receive more money regardless of any regulations the President might implement. What I mean is that the government can still make these rules easier for the companies, but it will not change the investment significantly.>>
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Press Review
Consequences of aggressive trade talk: Daley
William Daley, Argentiere Capital, provides insight to the U.S. relationship with China, trade and the economy.
Market Research
24.04 release
In the past week the market seemed to be largely dominated by the European currencies. The undisputed leader was the Pound, which was pushed up by the UK Prime Minister’s announcement on Tuesday and held its index 1% above its closest peer for the remainder of the period.
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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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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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