Mar 072012
 


6A 03 12 (1 Min) 03.07.12

3/7/2012 Monthly Unemployment Report (1430 HI time / 1930 EST)
Non Farm Jobs Forecast: 5.1K
Non Farm Jobs Actual:-15.4K
Previous Revision: -0.1K to 46.2K
Rate Forecast: 5.2%
Rate Actual: 5.2%
SPIKE / RETRACE
Started @ 1.0559
1st Peak @ 1.0521 – 1431 (1 min)
38 ticks

Reversal to 1.0562 – 1445 (15 min)
41 ticks

Notes: Strongly negative report that fell short of the forecast with a negligible revision to the previous report causing a large spike downward. The 1431 candle spiked down about 17 ticks, then pulled back before ratcheting down to 1.0521 7 seconds later. Then it hovered for about 4 sec in the 1.0524 – 1.0526 area which is where to close out. Reversal happened quickly to erase the entire loss in 15 min hitting the 100 SMA and unable to cross.