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Forex Signal (Thu, May 06, 4:28 am EST) UK Services PMI

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, May 5, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hi there :)

    This is Crazy Cat with a potentially profitable trading opportunity...

    Thursday, May 06th at 4:28 am New York Time we will have UK Services PMI coming out. It is expected to read 56.6. Last month it read 56.5.

    I recommend trading GBP/USD for this report.

    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/7370-uk-services-pmi.html

    The trigger for this indicator is 1.2. This means that if UK Services PMI comes out at 57.8 or more, GBP/USD will probably go up by 35 pips or more in the first 45 minutes of the report. If it comes out at 55.4 or less, GBP/USD will probably go down by 35 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...ces-pmi-after-spike-retracement-strategy.html

    For example: on April 07, UK Services PMI came out at 56.5, versus an expectation of 58.0. GBP/USD went down by 60 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 Services PMI

    I hope you make some money on this report.
    -Crazy Cat
    #1 Crazy Cat, May 5, 2010
    Lasted edited by : Sep 8, 2016
  2. koco

    koco Private, 1st Class

    Aug 23, 2009
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    WTF happened to this report? Nice 1.7 deviation lead to whipsaw!!! This sucks! Anyone knows why it happened?
  3. West Coast Pips

    West Coast Pips Sergeant

    Sep 24, 2009
    Likes Received:
    I hear you, this was a nasty release. Small spike and then turned around very fast. I believe the market was more concerned with the UK general election today.
  4. winterpage

    winterpage Recruit

    Apr 23, 2010
    Likes Received:
    Yep, whipsawed me around too. Chin up.

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