Forex Signal (Thu, July 01, 04:28 am EST) UK Manufacturing PMI

Crazy Cat

Former FPA Special Consultant
Messages
753
Hi there :)

This is Crazy Cat writing.

On Thursday, July 01st at 04:28 am New York Time we will have UK Manufacturing PMI coming out. It is expected to read 57.5. Last month it read 58.0.

This should be released at 04:28.

I recommend trading GBP/USD for this report.

This is quite risky report to trade and recently it was causing some problems. I still think it might be worthy to give a try but please be very careful and be ready to exit if the price does not seem to go anywhere. Nevertheless, I will be using a quite substantial trigger so chances are good it will be a no trade but on the other hand it may cause a quite reliable price action should it deviate that much.

Please read what this indicator means and how it affects the GBP/USD by going to this link: http://www.forexpeacearmy.com/forex-forum/economic-indicator-descriptions/7326-uk-manufacturing-pmi.html

The trigger for this indicator is 3.2. This means that if UK Manufacturing PMI comes out at 60.7 or higher, GBP/USD will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at 54.3 or lower, GBP/USD 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: Diamonds Forex Trading System (Trading News After The Spike) - Forex Peace Army Forum

For example: on January 04th, UK Manufacturing PMI came out at 54.1, versus an expectation of 52. GBP/USD went up by around 65 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 GBP Manufacturing PMI

I hope you make some money on this report.
-Crazy Cat
 
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Lúcio Felippe

Private
Messages
11
Last News

The June PMI compiled by Markit and the Chartered Institute of Purchasing and Supply slipped to 57.5 in June from a 15 -1/2 year high of 58.0 in May.
 
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