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Dukascopy Morning Forex Overview : 26/02/2013
"The more the results come in, the more the fear grows that Italy will become ungovernable"
- John Plassard, vice president at Mirabaud Securities LLP
The centre-right coalition led by former Prime Minister Silvio Berlusconi is leading in the race for the Italian Senate, according to the latest polls.
"Various indicators are signaling weakness in the euro. The current focus is whether the euro can hold above the lower end of the cloud"
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
The major currency pair continues to depreciate, as today the price dropped beneath the weekly S1 level at 1.3079. The price’s decline was so sharp that it has even breached the lower Bollinger line and the RSI slipped lower to the 30 benchmark.
Read more: FULL REPORT - Technical Analysis
"We therefore expect that the upward momentum for EUR/USD should pick up again with this week’s data potentially providing the starting point"
- Carolin Hecht, Currency Analyst at Commerzbank, on Eurozone’s economy and EUR/USD
Due to the fact that the Eurozone’s economy shrank 0.6% in the fourth quarter, there is an opinion that Euro bloc might not be over the worst yet. How would you evaluate the Eurozone's recent economic performance?
U.K. Downgrade Meaningless With Bondholders Indifferent
U.K. government bonds climbed, outperforming their AAA rated German peers in the first day of trading after Moody’s Investors Service cut Britain’s top rank, as investors downplayed the significance of the downgrade.
Read more: FULL REPORT - Press Review
Currency Index & Volatility: EUR
The single European currency did not follow a sole tendency throughout all of the last five trading days, being subject to fluctuations in the mood of market participants.
Read more: FULL REPORT - Market Research
Dukascopy Bank Sentiment Index
Global economic outlook
The six-month and three-year global economic expectations improved considerably in January, a Dukascopy Bank SA poll showed. The six-month economic sentiment index climbed 0.05 to 0.58. The three-year economic outlook improved to 0.77, the highest reading since records began in 2011.
Read more: FULL REPORT - Dukascopy Bank Sentiment Index
Global Stock Market Review
Dow Jones Industrial Average
U.S. stocks rose on Friday, as comments from the officials of Federal Reserve downplayed concerns over ending the growth-boosting activities.
Read more: FULL REPORT - Global Stock Market Review
Precious metals were mixed on Monday on speculation the Fed Chairman Ben Bernanke will support continuation of the growth-boosting measures at his testimony on Tuesday.
Read more: FULL REPORT - Commodity Overview
Trade Pattern Idea
GBP/USD Emerging Pattern: Channel Down
GBP/USD has formed a Channel Down pattern on the 1H chart. The pattern has 41% quality and 79% magnitude in the 187-bar period.
Weekly USD/CHF Emerging Pattern: Channel Down
USD/CHF has formed a Channel Down pattern on the 1D chart. The pattern has 69% quality and 51% magnitude on in the 70-bar period.
Currency Pair Returns: Risks
The Dukascopy Bank SA research department continues its work on statistical properties of currency pair returns. The previous part of the research marked out relationships amongst returns. It was therefore dedicated to a somewhat determinate aspect of their behaviour. In this issue we look into uncertainty of the movements and investigate the parameters that can help reduce it.
Read more: FULL REPORT - Economic Research
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, 1H, 4H and 1D time frame charts for major pairs for the last 144 periods till 07:00 GMT.
Read more: FULL REPORT - Dukascopy Aggregate Technical Indicator