6C 06 12 (1 Min) 01.06.12

1/6/2012 Monthly Unemployment Report (0200 HI time / 0700 EST)
Non Farm Jobs Forecast: 17.8K
Non Farm Jobs Actual: 17.5K
Previous Revision: n/a
Rate Forecast: 7.4%
Rate Actual:7.5%
SPIKE WITH 2ND PEAK
Started @ 0.9786
1st Peak @ 0.9765 – 0201 (1 min)
21 ticks

2nd Peak @ 0.9757 – 0207 (7 min)
29 ticks (2x bottom)

Reversal to 0.9767 – 0211 (11 min)
10 ticks

Notes: The jobs report basically matched the forecast while the unemployment rate rose by 0.1%. This caused a spike downward of 21 ticks, crossing all three major SMAs and the S3 line near the origin. With no other solid support to encounter, you would be wise to ride this report until you see arresting movement to the drop. With the :04 – :06 candles moving sideways and presenting a double bottom, that would be a safe place to exit. Then the :07 candle dropped for a few more ticks before the reversal recaptured 10 ticks in 4 minutes.