The Fundamental FOREX Blog

On Wednesday, 08-04-10 at 10:00 AM ET, the USD ISM Non-Manufacturing  Composite report was released.

This report is released by the Institute of Supply Management.

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 = 53.8

Forecast = 53.3—————revised= 53.2

Actual = 54.3

Here is how I was set up for these reports:

USD-10-00AM-ET-08-04-10
Looking for a 3 difference
Actual > Forecast = Good for USD
USD ISM Non-Manufacturing PMI
——actual———-forecast——previous
_____54.3________53.3_______53.8
________________53.2
out at 56.2 or higher – SELL EUR/USD
out at 50.2 or lower – BUY EUR/USD
Good – “actual” came out higher then “forecast” by 1.0
Good – “actual” came out higher then revised “forecast” by 1.1
Good – “actual” came out higher then “previous” by 0.5

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.
However, the 4 USD related currency pairs did move nicely in the right direction.

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY chart

This currency pair EUR/JPY currency pair moved up for 6 minutes about 33 PIPS
Moved down for 16 minutes about 46 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair moved down for 51 minutes about 82 PIPS – right direction

(GBP/JPY)

a one minute GBP/JPY chart

This currency pair GBP/JPY currency pair moved up for 8 minutes about 51 PIPS
Moved down for 14 minutes about 44 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair small move up 1st minute
Moved down for 46 minutes about 75 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair spiked down 1st minute about 12 PIPS
Moved up for 37 minutes about 38 PIPS – right direction

(USD/JPY)

a one minute USD/JPY chart

This currency pair USD/JPY currency pair moved up for 54 minutes about 62 PIPS – right direction

The next scheduled release of this report will be on Friday, 09-03-10 at 10:00 AM ET.

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

Stay tuned!