The Fundamental FOREX Blog

On Thursday, 06-03-10 at 10:00 AM ET, the USD ISM Non-Manufacturing  Composite report was released.

This report is released by the Institute of Supply Management.

Also, another USD news report was released at the same time:

USD – Factory Orders MoM

Released by the Census Bureau

This month I did a “preview” of this report, click here for a review.

Here is what happened:

USD ISM Non-Manufacturing  Composite stats:

Previous = 55.4

Forecast = 55.9

Actual = 55.4

Here is how I was set up for these reports:

USD-10-00AM-06-03-10
Looking for a 3 difference
Actual > Forecast = Good for USD
USD ISM Non-Manufacturing PMI
——actual———-forecast——previous
_____55.4_______55.7_______55.4
out at 58.9 or higher – SELL EUR/USD
out at 52.9 or lower – BUY EUR/USD
Bad – “actual” came out lower then “forecast” by 0.5
Neutral – “actual” came out same as “previous”

I had set up to trade the EUR/USD currency pair if the “actual” report came out higher or lower than the “forecast” by 3.0 or more – which it did not do – and I did not enter a trade.

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY chart

This currency pair EUR/JPY currency pair moved down for 33 minutes about 100 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair moved down for 33 minutes about 64 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

This currency pair GBP/JPY currency pair moved down for 32 minutes about 107 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved down for 31 minutes about 55 PIPS

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved up for 40 minutes about 48 PIPS

(USD/JPY)

a one minute USD/JPY chart

This currency pair USD/JPY currency pair moved down for 32 minutes about 39 PIPS

The next scheduled release of this report will be on Monday, 07-05-10 at 10:00 AM ET.

I will be probably be writing a “preview” post a day or two before the reports release.

Stay tuned!