The PMI News Comes Up Today

4:30am (NY Time) UK Manufacturing PMI Forecast 61.5 Previous 62.0
ACTION: GBP/USD BUY 63.5 SELL 59.0

The Trade Plan
We are looking for a tradable deviation (or the difference between the forecast figure and the actual release figure) of 2.0, and because this is a leading indicator and its impact may hint that the future trend of other economic indicators (such as inventory, employment, retail sales, etc..), market usually reacts to this release with volatility if we get our deviation.

We will be looking to BUY GBP/USD if we get a 63.5 or better, or looking to SELL GBP/USD if we get a 59.0 or worse, we’ll be using the Retracement Trading Method to trade this release.

Happy Trading!

Happy tradinging!

Today is hard to predict, because there are a lot of news, so please watch it carefully especially on UK Interest rate statement.

EUR/USD
May be after from around 1.3750 or higher, then it is more likely to go down to around 1.37 or 1.3650, and after that, it might have potentially to go up to around 1.3730.
(Current Price: 1.3728)

GBP/USD
May be after from around 1.6130 or higher, then it is more likely to go down to around 1.6070 or lower than 1.6050, and after that, it might have potentially to go up to around 1.6150.
(Current Price: 1.6100)