May 052013

6A 03-13 (1 Min)  2_18_2013

2/18/2013 RBA Monetary Policy Meeting Minutes (1930 EST)
Forecast:  n/a
Actual: n/a
Started @ 1.0292
1st Peak @ 1.0282 – 1931 (1 min)
10 ticks

Reversal to 1.0310 – 1942 (12 min)
28 ticks

Notes:  Minutes caused a short spike of only 10 ticks that crossed the 100 and 200 SMAs and the R1 Pivot.  With the LOD and PP looming a few ticks below, it could not sustain the drop and reversed after about 13 sec.   With JOBB, you would have filled short with no slippage at about 1.0387, then had an opportunity to close out with 2-4 ticks before it reversed 13-20 sec after the report.  The support barriers were too much to sustain the fall.  As the minutes were digested over time, the market traded sideways for the next 5 min or so just above the 100 SMA, then executed a quick and strong reversal for a total of 28 ticks extending the HOD and crossing the R2 Pivot.  After that it pulled back to the 50 SMA and chopped sideways on top of the 50 SMA.