1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Forex Signal (Fri, Feb 26, 09:42 am EST) Chicago PMI

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Feb 25, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hi there :)

    This is Crazy Cat writing.

    On Friday, Feb 26th at 09:42 am New York Time we will have US Chicago PMI coming out. It is expected to read 59.3. Last month it read 61.5.

    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: http://www.forexpeacearmy.com/forex-forum/economic-indicator-descriptions/7679-us-chicago-pmi.html

    The trigger for this indicator is 7.0 This means that if Chicago PMI comes out at 66.3 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 52.3 or less, USD/JPY will probably go down by 30 pips or more in the first 45 minutes of the report.

    Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

    To read the after-spike retracement strategy for this report click here: http://www.forexpeacearmy.com/forex...ago-pmi-after-spike-retracement-strategy.html

    For example: on Jan 29th, US Chicago PMI came out at 61.5, versus an expectation of 57.2. USD/JPY went up by around 30 pips. 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 Chicago PMI

    Also, in order to get the number at 9:42, not 9:45, you need to have a special news subscription that I don't personally have so I will not trade it myself. Besides, currently it does not make a lot of pips anyway so feel free to skip it as well.

    That's all for this week, have a good weekend!
    -Crazy Cat
    #1 Crazy Cat, Feb 25, 2010
    Lasted edited by : Sep 8, 2016

Share This Page