3/21/2013 French Flash Manufacturing PMI (0400 EDT)
Forecast: 44.4
Actual: 43.9
Previous Revision: +0.3 to 43.9
SPIKE WITH 2ND PEAK
Started @ 1.2955 (0358)
1st Peak @ 1.2935 – 0359 (1 min)
20 ticks
Reversal to 1.2943 – 0400 (2 min)
8 ticks
2nd Peak @ 1.2930 – 0407 (9 min)
25 ticks
Reversal to 1.2940 – 0419 (21 min)
10 ticks
Notes: Report breaks 2 min early at 0358. The reading came in 0.5 points below the forecast to mildly disappoint, but the simultaneous Services reading came in 2.2 points off the forecast. This caused a 20 tick short spike over 1 bar that crossed all 3 of the major SMAs near the origin. With JOBB you would have filled short at about 1.2951 with 1 tick of slippage. Look to exit at the LOD on the :59 bar or it is normally safe to wait for a few more ticks in the following bars for 12 – 15 ticks. After the 1st peak, it pulled back to reverse for 8 ticks in 1 min. Then it fell for a 2nd peak of 5 more ticks 8 min later, before the final reversal reclaimed 10 ticks 21 min after the report. Then it chopped sideways just before the German report released.