3/8/2012 Monthly Trade Balance (1430 HI time / 1930 EST)
Previous Revision:-0.38B to 1.33B
Spike WITH 2ND PEAK
Started @ 1.0631
1st Peak @ 1.0614 – 1431 (1 min)
2nd Peak @ 1.0607 – 1457 (27 min)
Reversal to 1.0626 – 1508 (38 min)
Notes: Report fell short of forecast, with a strongly negative revision to the previous report. This caused a decent spike downward of 17 ticks with a pullback, then a 2nd peak of 24 ticks 27 minutes later. Notice the drop was losing its slope and the candles are shorter as the 2nd peak is approached. Good time to get out and /or enter to play the reversal. Reversal had two large candles and crossed the 50 and 100 SMAs before retracing.