2/21/2013 French Flash Manufacturing PMI (0300 EST)
Forecast: 43.9
Actual: 43.6
Previous Revision: n/a
SPIKE WITH 2ND PEAK
Started @ 1.3275 (0258)
1st Peak @ 1.3258 – 0300 (2 min)
17 ticks
Reversal to 1.3270 – 0312 (14 min)
12 ticks
2nd Peak @ 1.3255 – 0321 (23 min)
20 ticks
Reversal to 1.3263 – 0326 (28 min)
8 ticks
Notes: Report breaks 2 min early at 0258. The reading came in 0.3 points below the forecast to mildly disappoint, but the simultaneous Services reading came in 1.8 points off the forecast. This caused an average 17 tick short spike over 2 bars that crossed all 3 of the major SMAs near the terminus. With JOBB you would have filled short at about 1.3271 with no slippage. Look to exit in the midst of the SMAs on the :59 or :00 bar for about 7-12 ticks. After the 1st peak, it struggled to reverse for 12 ticks in 12 min to eclipse the 20 SMA. Then it fell for a 2nd peak of 3 more ticks 9 min later, before the final reversal reclaimed 8 ticks just before the German report released.