The Fundamental FOREX Blog

On Friday, 09-03-10 at 10:00 AM ET, the USD ISM Non-Manufacturing  Composite report was released.

This report is released by the Institute of Supply Management.

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 = 54.3

Forecast = 53.6

Actual = 51.5

Here is how I was set up for these reports:

USD-10-00AM-ET-09-03-10
Looking for a 3 difference
Actual > Forecast = Good for USD
USD ISM Non-Manufacturing PMI
——actual———-forecast——previous
______51.5________53.6_______54.3
out at 56.6 or higher – SELL EUR/USD
out at 50.6 or lower – BUY EUR/USD

Bad – “actual” came out lower then “forecast” by 2.1
Bad – “actual” came out lower then “forecast” by 2.1

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 spiked down 1st minute about 30 PIPS
moved up for 4 minutes about 20 PIPS
Moved down for 27 minutes about 65 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair moved up for 7 minutes about 30 PIPS
Moved down for 35 minutes about 35 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

This currency pair GBP/JPY currency pair moved down for 33 minutes about 77 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair small ranged up for 40 minutes

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair ranged up for 32 minutes

(USD/JPY)

a one minute USD/JPY chart

This currency pair USD/JPY currency pair moved down for 16 minutes about 62 PIPS
Ranged!

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

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

Stay tuned!