U.S. GDP Grew Much Less Than Estimated In Q2

SmartForexNews

MT5 -With private inventory investment, consumer spending, and exports all rising by less than previously estimated, the Commerce Department released a report on Thursday showing that the U.S. economy expanded by less than previously reported in the second quarter.

The report showed that U.S. gross domestic product increased at an annual rate of 1.3 percent in the second quarter compared to the previous estimate of 1.7 percent growth.
The downward revision came as a surprise to economists, who had expected the rate of second quarter GDP growth to be unrevised.

Published: 2012-09-27 12:50:00 UTC+00 10 hours, 32 min. ago

U.S. Weekly Jobless Claims Fall More Than Expected

SmartForexNews

MT5- In a positive sign for the sluggish labor market, the Labor Department released a report Thursday morning showing a much bigger than expected drop in initial jobless claims in the week ended September 22nd.

The report showed that jobless claims fell to 359,000 from the previous week's revised figure of 385,000. Economists had expected jobless claims to drop to 376,000 from the 382,000 originally reported for the previous week.

With the bigger than expected drop, jobless claims fell to their lowest level since coming in at 357,000 in the week ended July 21st.

Published: 2012-09-27 12:46:00 UTC+00 10 hours, 36 min. ago

German Unemployment Rises In September

SmartForexNews

MT5-Germany's unemployment increased by 9,000 in September from the prior month, the Federal Labor Agency said Thursday. Economists had forecast unemployment to rise by 10,000.

The number of unemployed rose by 11,000 in August.

On a seasonally adjusted basis, the jobless rate came in at 6.8 percent, unchanged from the prior month and matched economists' expectation.

Published: 2012-09-27 08:05:00 UTC+00 15 hours, 17 min. ago

Finland's Business Confidence Remains Weak

SmarForexNews

MT5-Finland's business confidence continued to be weak in September, data from a survey by the Confederation of Finnish Industries showed Thursday.
The manufacturing confidence index came in at -8 points, little changed from -9 points recorded in August, which was revised down from -7 points. The measures of production expectations and order books showed weakness during the month, while stocks of final goods decreased modestly.
The corresponding indicator for the construction sector dropped to -24 points in September from -20 points in August, indicating a further deterioration in confidence.
Meanwhile, the indicator of sentiment among Finnish traders improved to -4 points in September from -6 points. The service sector confidence index recovered slightly to 2 points from 0 points in August, data showed.

Published: 2012-09-27 06:28:00 UTC+00 16 hours, 54 min. ago

Silver Technical Levels and Trading Recommendations for September 25, 2012

SmartForexAnalysis

Overview

The H4 chart shows today that silver is still trading between the Support level 33.90 and the Resistance level of 34.25. In case that silver continues its bearish view and manages to break this Support level, it will provide a good opportunity to sell below the Support level as well as will make it possible to reach the Support level of 32.50 as a level target. After that we should wait for breaking out of this Support level to continue the bearish move. In case silver is able to break the Support level of 32.25 and closes 4H below, we will get a bearish strength which will provide new sell signals and enable the Support level of 32.65 as a level target.
On the other hand, if silver reverses its bearish move and takes an upward direction after its rebound from the Support level 33.90 , this will be a strong indicator for the bullish move after closing 4H above the Support level enabling the Resistance level 34.25 again. In this case, we should wait for breaking this Resistance level to continue the bullish view. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level of 33.90 is unbroken, the upward move is still expected and invalidating the downward movement. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support levels

R3(35.60)
R2(35.00)
R1(34.25)
S1(33.90)
S2(33.25)
S3(32.65)

Trading Recommendations

According to previous analysis, we recommend selling in case of closing 4H below the Support level 33.90 with TP 33.35; SL closing 4H above the Support level might be appropriate. 

Performed by Analytical expert: Hossam Soliman Ali
InstaForex Companies Group © 2007-2012

 Published: 2012-09-25 12:07:02 UTC+00 50 min. ago

GBP/JPY Technical Levels and Trading Recommendations for September 25, 2012

SmartForexAnalysis

Overview

The H4 chart demonstrates today that the pair continues its bearish move till reaching the Support level 126.15. Currently, the pair is trying to break the Support level of 126.15 . Given that the pair manages to break this Support level and closes 4H below, we will receive a strong indicator for more bearish signals which will enable the Support level of 125.70 as a level target. Then we should wait for breaking of this Support level to continue the downward move and open the way towards the Support level of 125.30.
On the other hand, if the pair fails to break the Support level of 126.15 and bounces from it, it may reverse the bearish move taking an upward move enabling the Resistance level of 126.85. Then we should wait for breaking this Resistance level to provide new bullish signals. In case the pair is able to break the Resistance level and close 4H above, we will get a bullish strength providing new buy signals enabling the Resistance level of 125.75 as a level target. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level 125.80 is unbroken, the upward move is still expected invalidating the bearish outlook.

Resistance and Support Levels

R3(128.40)
R2(127.75)
R1(126.85)
S1(126.15)
S2(125.70)
S3(125.30)

Trading Recommendations

According to previous analysis, we recommend selling after breaking the Support level 126.15 and closing 4H below with TP 125.75; SL closing 4 hours above the Support level will be appropriate.

 

Performed by Analytical expert: Hossam Soliman Ali
InstaForex Companies Group © 2007-2012

 Published: 2012-09-25 10:54:14 UTC+00 2 hours, 3 min. ago

USD/CAD Intraday Technical Analysis and Trading Recommendations for September 25, 2012

SmartForexAnalysis

The USD/CAD pair found resistance around the price level of 0.9915 corresponding to the upper limit of the bearish channel breaking down the lower limit of the consolidation range at 0.9845 which previously acted as support level.

After breakdown of 0.9845, the market went to the downside reaching the price level of 0.9635 testing the lower limit of the depicted bearish long-term channel which expressed a considerable bullish strength.

The USD/CAD pair reacted strongly towards the upper limit of the depicted channel pushing the pair to the downside testing the intraday Support zone 0.9720-0.9700 (neckline of a possible H&S reversal pattern)

It's important to notice that the USD/CAD pair is probably establishing an ascending bottom around 0.9777 which may act as intraday support to be watched.

Price level of 0.9840 still should be watched for price action at retesting as it will probably offer a valid SELL entry with target at the lower limit of the channel around 0.9650. However, fixation above 0.9845 threatens again the bearish view confirming the possible bullish Head & Shoulders pattern depicted on the chart which will be targetting around 0.9920.

Performed by Analytical expert: Mohamed Samy
InstaForex Companies Group © 2007-2012

 Published: 2012-09-25 10:16:24 UTC+00 2 hours, 41 min. ago