US ISM Non-Manufacturing PMI is a leading indicator but because it’s scheduled after the all important Nonfarm Payroll and the fact Feds is likely to hike rates this month, I would only take a trade if we get our tradable deviation.
10:00am NY Time US ISM Non-Manufacturing. PMI Forecast 55.3 Previous 54.8
If our tradable releases are reached, there is a good expectation that the market will move 50 pips within the next 120 minutes.
I´ll be using my retracement trading method for this release, for more information on my news trading methods, please read: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: EURUSD.
US ISM Non-Manufacturing PMI | December 5, 2016 | Forex Trading
December 5, 2016 by Leave a Comment