11/4/2012 Monthly Retail Sales (1430 HI time / 1930 EDT)
Forecast: 0.4%
Actual: 0.5%
Previous Revision: +0.1% to 0.3%
SPIKE WITH 2ND PEAK
Started @ 1.0310
1st Peak @ 1.0327 – 1431 (1 min)
17 ticks
Reversal to 1.0312 – 1437 (7 min)
15 ticks
2nd Peak @ 1.0333 – 1541 (71 min)
23 ticks
Reversal to 1.0320 – 1719 (169 min)
13 ticks
Notes: Report mildly exceeded the forecast, with a small upward previous report revision. This caused a long spike of 17 ticks that peaked on the :31 bar, but could not sustain most of the spike due to crossing the PP Pivot and the narrow result offset from the forecast. With JOBB, you would have filled long at 1.0316 with 1 tick of slippage, then look to exit at the PP Pivot at 1.0325 for 9 ticks. After the initial peak, it reversed nearly all of the spike before chopping sideways for the next hour. Then as the SMAs were rising, it bounced off of the 100 SMA long to achieve a 2nd peak of 6 more ticks 71 min after the report. Then it reversed for only 13 ticks to the 200 SMA about 90 min later.