7/4/2012 Monthly Trade Balance (1530 HI time / 2130 EST)
Previous Revision: +0.23B to -0.03B
Started @ 1.0204
1st Peak @ 1.0216 – 1531 (1 min)
Reversal to 1.0180 – 1557 (27 min)
Notes: Report came in better than the forecast, but still a deficit, with a positive revision to the previous report. With the same overall result as the last report, this caused a longer developing indecisive reaction with a small long spike of 12 ticks followed by a large 36 tick reversal in 27 min. This also broke on the 4th of July Holiday for the US, so low volume occurred. The spike hit the PP Pivot, then the reversal crossed all 3 major SMAs, the S1 and S2 Pivots.