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Forex Signal (Wed, June 30th, 09:42 am EST) Chicago PMI

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jun 29, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hi there :)

    This is Crazy Cat writing.

    On Wednesday, June 30th at 09:42 am New York Time we will have US Chicago PMI coming out. It is expected to read 59.5. Last month it read 59.7

    If anything, I recommend trading USD/JPY for this report.

    Let me repeat myself on it: this report is not a hot report anymore, plus the number is released at 9:42 to a special subscribers list. I don't really recommend to trade it but if you must, feel free to trade it. I will not be trading it myself, however.

    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 69.1 or higher, USD/JPY will probably go up by 25 pips or more in the first 45 minutes of the report. If it comes out at 55.1 or less, USD/JPY will probably go down by 25 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-forum/felix-after-spike-retracement-strategies/

    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

    Again, 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, Jun 29, 2010
    Lasted edited by : Sep 8, 2016

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