Trade EUR/USD On Various News Report Release

Various US economic reports will be released on Friday, at 10:00 a.m. ET. Reports include:

• ISM Manufacturing PMI

• ISM Manufacturing Prices

• Construction Spending

The Institute for Supply Management Manufacturing Purchasing Managers Index is the high impact news event. It is based on 600 surveyed purchasing managers rating the level of business conditions.

Typically, this event can get the market moving. But it can also pull back, making for a trade opportunity with an Iron Condor strategy trading Nadex EUR/USD spreads. The Iron Condor is a neutral strategy that can help you collect premium as the trade heads toward settlement.

One spread is bought below the market with the ceiling of where the market is trading at the time, and another spread is sold above the market with the floor of where the market is trading at the time. A combined profit potential for this trade should be $30 or more between the spreads.

Stops should be placed approximately 60 pips above and below for a 1:1 risk/reward ratio. If the market settles anywhere in between the breakeven points of above or below 30 pips, the trade will make some profit.

Entry can be as early as 9:00 a.m. ET for 11:00 a.m. expirations.