1/22/2013 German ZEW Economic Sentiment (0500 EST)
Forecast: 12.2
Actual: 31.5
SPIKE WITH 2ND PEAK
Started @ 1.3308
1st Peak @ 1.3335 – 0501 (1 min)
27 ticks
2nd Peak @ 1.3373 – 0616 (76 min)
65 ticks
Reversal to 1.3345 – 0707 (127 min)
28 ticks
Notes: The reading came in over 19 points better than the forecast to impress. This caused a 27 tick long spike on 1 bar that crossed the 100 SMA, and PP – R2 Pivots With JOBB you would have filled long at about 1.3313 with 1 tick of slippage. Look to exit at about 1.3334 with about 21 ticks as it crossed the R2 Pivot. After the spike, it pulled back a little, then ascended for a 2nd peak for 38 more ticks over an hour later, struggling to fight through the 200 SMA and R3 Pivot. Then the reversal fell to 1.3345 for 28 ticks, just below the R3 Pivot about 50 min later.