Participant

String of US data released today at 3pm GMT which included; ISM Manufacturing PMI, expected between 51.5 and 52 came out at 52.8 and ISM Manufacturing New Orders previous number 53.5 came out at 55.8. Strong numbers and especially exactly what the market was looking for. The green back started rallying again against all major currencies as soon as figures were released. Against the Euro the USD rallied from 1.0968 to 1.0885 in the space of 1 and ½ hours. Further downward price on this pair seems likely, but the day chart shows support on the bottom side of the Ichimoku cloud which is also on the 76.4% Fibo line. Stochastic Oscillator also showing signs of oversold territory.

You must be logged in to reply to this topic.