4/23/2013 French Flash Manufacturing PMI (0300 EDT)
Previous Revision: +0.1 to 44.0
SPIKE WITH 2ND PEAK
Started @ 1.3047 (0258)
1st Peak @ 1.3068 – 0259 (1 min)
Final Peak @ 1.3090 – 0316 (18 min)
Reversal to 1.3080 – 0320 (22 min)
Notes: Report breaks 2 min early at 0358. The reading came in 0.2 points above the forecast to mildly impress, but the simultaneous Services reading came in 1.8 points better than the forecast. This caused a 21 tick long spike over 1 bar that peaked on the R1 Mid Pivot, using all 3 SMAs in a tight fist at the origin as support. With JOBB you would have filled long at about 1.3052 with 2 ticks of slippage. Look to exit at the R1 Mid Pivot on the :59 or :00 bar for 15 ticks, or leave a few contracts active for the highly likely 2nd peak that gained another 22 ticks as the overall news was very bullish. After the 1st peak, it ascended on the :02 bar for another 15 ticks, then achieved a final peak of 7 more ticks after a brief reversal on the :16 bar. It never fell below the 13 SMA until the German report broke as it hovered around the R1 Pivot prior to the release.