On Wednesday, 03-03-10 at 10:00 AM ET, the USD ISM Non-Manufacturing Composite report will be released.
This report is released by the Institute of Supply Management.
This report was being released alone.
This month I did a “preview” of this report on Tuesday, 03-02-10, click here for a review.
Here is what happened:
USD ISM Non-Manufacturing Composite stats:
Previous = 50.5
Forecast = 51.0
Actual = 53.0
The economists were forecasting an improvement for the economy and the “actual“ did show an improvement.
Here is how I was set up and what happened:
USD-8-00AM-03-03-10
Looking for a 3 difference
Actual > Forecast = Good for USD
USD ISM Non-Manufacturing Composite
——actual———-forecast———-previous
_____53.0________51.0_________50.5
out at 54.0 or higher – BUY USD/JPY
out at 48.0 or lower – SELL USD/JPY
Good – “actual” came out higher then “forecast” by 2.0
Good – “actual” came out higher then “previous” by 2.5
I had set up to trade the USD/JPY currency pair if the “actual” report came out higher or lower than the “forecast” by 3.0 or more – which it did not do – but, I felt it was close enough and I did enter a trade “win“.
Here are the charts:
(EUR/JPY)
a one minute EUR/JPY chart
This currency pair EUR/JPY currency pair spike up 1st 2 minutes about 23 PIPS
moved down next 4 minutes about 30 PIPS
Ranged!
(EUR/USD)
a one minute EUR/USD chart
This EUR/USD currency pair moved up 1st 2 minutes about 10 PIPS
Moved down next 10 minutes about 32 PIPS - right direction
Moved up next 46 minutes about 70 PIPS - wrong direction
(GBP/JPY)
a one minute GBP/JPY chart
This currency pair GBP/JPY currency pair moved up 1st 6 minutes about 120 PIPS
Moved down next 34 minutes about 45 PIPS
(GBP/USD)
a one minute GBP/USD chart
This GBP/USD currency pair spike up/down/up 1st 3 minutes about 4 PIPS/ 12 PIPS/ 14 PIPS
moved down next 9 minutes about 33 PIPS – right direction
Ranged!
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair ranged for 12 minutes
moved down next 58 minutes about 43 PIPS – right direction
(USD/JPY)
a one minute USD/JPY chart
This currency pair USD/JPY currency pair moved up next 12 minutes about 15 PIPS – right direction
Moved down next 47 minutes about 33 PIPS – wrong direction
Entered a small win here!
The next scheduled release of this report will be on Wednesday, 04-05-10 at 9:00 AM ET
I will be probably be writing a “preview” post a day or two before the reports release.
Stay tuned!
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