On Thursday, March 31 at 10:00 am New York Time we will have US ISM Manufacturing Index coming out. It is expected to read 57.0. Last month it read 56.5.
I recommend trading USD/JPY for this report.
Please read what this indicator means and how it affects the USD/JPY by going to this link: US ISM Manufacturing Index
The trigger for this indicator is 6. This means that if US ISM Manufacturing index comes out at 63.0 or higher, USD/JPY will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at 51.0 or lower, USD/JPY will probably go down by 30 pips or more in the first 45 minutes of the report.
This is very unlikely we will see such a big deviation, and this is exactly why I set such triggers - I don't want to trade it with normal triggers because right now it is highly unreliable report to trade. But if a miracle happens and we see such deviation, then I guess it's worthy to give a try. 75% chance it will be a no trade.
To read the after-spike retracement strategy for this report click here: US ISM Manufacturing & Pending Home Sales (after-spike retracement strategy)
For example: on Jan 04, US ISM Manufacturing Index came out at 55.9, versus an expectation of 54. The market did not care. See for yourself what happened on this chart: Forex news trading currency exchange charts
I highly recommend you study the entire history and charts of this report by following this link:
Forex News Trading | Details and History for USD ISM Manufacturing Index
Good luck!
Trade with JcLyons Forex Platform
Thursday, April 1, 2010
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