Forex Signal (Fri May 2 2011, 10:00am NY Time EST) – US ISM Manufacturing PMI

ISM or Institute for Supply Management is releasing its PMI (Purchasing Manager Index) today. As a leading indicator, traders generally pay attention to this report for hints of economic trend. Here’s the forecast: 10:00am NY Time US ISM Manufacturing PMI Forecast 59.9 Previous 61.2 ACTION: 62.4 BUY USDJPY / 57.4 BUY EURUSD The Trade Plan We’ll be looking for around 2.5 points of deviation … [Read more...]