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11/4/2011 Monthly Unemployment Report (0100 HI time / 0700 EDT)
Non Farm Jobs Forecast: 16.3K
Non Farm Jobs Actual:-54.0K
Previous Revision: n/a
Rate Forecast: 7.2%
Rate Actual:7.3%
SPIKE WITH 2ND PEAK
Started @ 0.9842
1st Peak @ 0.9772 – 0102 (2 min)
70 ticks
2nd Peak @ 0.9756 – 0115 (15 min)
86 ticks
Reversal to 0.9779 – 0147 (47 min)
23 ticks
Notes: Very negative report showing a big loss of jobs lost compared to the forecast of a moderate gain, and an increase in the unemployment rate by 0.1%. This caused a spike downward of 70 ticks, crossing all three major SMAs near the origin, and the S1 line closer to the bottom. The :01 candle was able to hold its value and the :02 candle dropped another 11 ticks. It is common for this report to achieve a peak on a later candle, so it would be okay to wait it out. The :14 candle would be a great place to get out after seeing a large red candle. The reversal was slow and laborious yielding 23 ticks, but taking over 30 minutes.