Jul 112012

6A 09 12 (1 Min) 07.11.12

7/11/2012 Monthly Unemployment Report (1530 HI time / 2130 EDT)
Non Farm Jobs Forecast: 0.2K
Non Farm Jobs Actual: -27.0K
Previous Revision: -11.1K to 27.8K
Rate Forecast: 5.2%
Rate Actual: 5.2%
Started @ 1.0178
1st Peak @ 1.0134 – 1534 (4 min)
44 ticks

2nd Peak @ 1.0119 – 1556 (26 min)
59 ticks

Reversal to 1.0139 – 1656 (86 min)
27 ticks

Notes: Very Strong negative report that fell short of the forecast with a sizeable downward revision to the previous strong report caused a healthy short spike. With JOBB you would have filled short at about 1.0170 with 3-4 ticks of slippage, then had an easy opportunity to capture at least 20 ticks. All of the major SMAs were already above the trade action at the origin, so it only crossed the PP and S1 Pivots on the spike, while the 2nd peak eclipsed the S2 Pivot. The reversal was only able to rebound for 20 ticks in 49 min. Then after testing the 1.0139 area 2 more times, it continued to step short for several hours to a low of 1.0040 as the dollar rallied overnight.