May 072013
 

6E 03-13 (1 Min)  1_24_2013

1/24/2013 French Flash Manufacturing PMI (0300 EST)
Forecast:  44.9
Actual:  42.9
Previous Revision: n/a
SPIKE WITH 2ND PEAK
Started @ 1.3335 (0258)
1st Peak @ 1.3301 – 0259 (1 min)
34 ticks

Reversal to 1.3311 – 0300 (2 min)
10 ticks

2nd Peak @ 1.3291 – 0308 (10 min)
44 ticks

Reversal to 1.3306 – 0320 (22 min)
15 ticks

Notes:  Report breaks 2 min early at 0258.  The reading came in 2 points below the forecast to strongly disappoint.  This caused a large 34 tick short spike over 1 bar that crossed the 200 SMA near the origin and the PP Pivot about halfway down.   With JOBB you would have filled short at about 1.3329 with 2 ticks of slippage.  Look to exit as the bar expires near the LOD with about 25 ticks.  After the 1st peak, it bounced up off of the LOD for 10 ticks, then fell for a 2nd peak of 10 more ticks a few min later. The reversal snagged about 15 ticks in another 10 min, fighting through the 20 and 13 SMAs then traded sideways for about 8 min awaiting the German report results.