Market Forecast ahead of US ISM Manufacturing PMI !

(US ISM Manufacturing PMI) .The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US.

Usual Effect: A high reading or a better than expected number is seen as positive  for the USD, while a low reading is negative.

Frequency : Released monthly, on the first business day after the month ends.

Last Read : 59.0

Expectations :58.5

Volatility :  High Volatility .

 Time : It will be be published today at 14:00 GMT , you can follow this event live @ goo.gl/LOceky

Market Impact :

We have 3 Scenarios for the USD : 

  • Scenario 1 : A reading between (58.0 – 59.0 ) , will bring sideways move with possible to break higher..
  • Scenario 2 : A reading above 59.0 , will bring bullish move for the USD , could break 1 or 2 levels higher .
  • Scenario 3 : A reading below 58.0 , will bring bearish move for the USD , could test 1 or 2 support levels before the next rise ..

 

EURUSD :

Trend direction : downward

Support and resistance : 1.2390 , 1.2450 , 1.2500 , 1.2540 , 1.2570 , 1.2635 , 1.2660 , 1.2715 , 1.2765 , 1.2830 , 1.2900

Market Impact :

  • Scenario 1 , will bring sideways move with possible to break lower..
  • Scenario 2, will bring bearish move for the EURUSD  , could break 1 or 2 support levels.
  • Scenario 3 , will bring bullish  move for the EURUSD  , could test 1 or 2 resistance levels before the next fall.

GBPUSD :

Trend direction : downward

Support and resistance : 1.6000 , 1.6051, 1.6090 , 1.6140 , 1.6166 , 1.6210 , 1.6245 , 1.6286, 1.6330 , 1.6390

Market Impact :

  • Scenario 1 , will bring sideways move with possible to break lower..
  • Scenario 2 , will bring bearish move for the GBPUSD  , could break 1 or 2 support levels.
  • Scenario 3, will bring bullish  move for the GBPUSD  , could test 1 or 2 resistance levels before the next fall.

 

AUDUSD :

Trend direction : downward

Support and resistance :0.8500 , 0.8550, 0.8600, 0.8630 0.8660 , 0.8730 , 0.8785 , 0.8820 , 0.8850 , 0.8900

Market Impact :

  • Scenario 1 , will bring sideways move with possible to break lower..
  • Scenario 2 , will bring bearish move for the AUDUSD  , could break 1 or 2 support levels.
  • Scenario 3 , will bring bullish  move for the AUDUSD  , could test 1 or 2 resistance levels before the next fall.

 

NZDUSD :

Trend direction : downward

Support and resistance: 0.7500 , 0.75500.7600 , 0.7640 , 0.7670, 0.7700, 0.7750 ,  0.7790 , 0.7830 , 07860 , 0.7900

Market Impact :

  • Scenario 1 , will bring sideways move with possible to break lower..
  • Scenario 2 , will bring bearish move for the NZDUSD  , could break 1 or 2 support levels.
  • Scenario 3 , will bring bullish  move for the NZDUSD  , could test 1 or 2 resistance levels before the next fall.

 

USDJPY :

Trend direction : Upward

Support and resistance : 107.00 ,107.50 108.90 , 109.25 , 109.95 , 110.25 , 110.65 , 111.00, 111.50 , 112.00 , 112.30

Market Impact :

  • Scenario 1 , will bring sideways move with possible to break higher..
  • Scenario 2 , will bring bullish move for the USDJPY , could break 1 or 2 levels higher .
  • Scenario 3 , will bring bearish move for the USDJPY , could test 1 or 2 support levels before the next rise ..

 

USDCHF :

Trend direction : Upward

Support and resistance : 0.9400 , 0.9450 , 0.9500 , 0.9540 , 0.9600 , 0.9650 , 0.9700 , 0.9750

Market Impact :

  • Scenario 1 , will bring sideways move with possible to break higher..
  • Scenario 2 , will bring bullish move for the USDCHF , could break 1 or 2 levels higher .
  • Scenario 3 , will bring bearish move for the USDCHF , could test 1 or 2 support levels before the next rise ..

 

USDCAD :

Trend direction : Upward

Support and resistance : 1.1100 , 1.1150 , 1.1210 ,1.1240 , 1.1280 , 1.1320 , 1.1350 , 1.1400

Market Impact :

  • Scenario 1 , will bring sideways move with possible to break higher..
  • Scenario 2 , will bring bullish move for the USDCAD , could break 1 or 2 levels higher .
  • Scenario 3 , will bring bearish move for the USDCAD , could test 1 or 2 support levels before the next rise ..

MARKET DATA

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