US ISM Non-Manufacturing PMI is a leading indicator and if it goes in the same direction as the earlier ADP release, market should position ahead of the BLS release on Friday, but if the opposite is true, or a conflict between these releases, I’d recommend to use caution and stay out.
10:00am NY Time US ISM Non-Manufacturing. PMI Forecast 56.6 Previous 57.2
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 | January 5, 2017 | Forex Trading
January 2, 2017 by Leave a Comment