-062012.jpg "Click to enlarge")
6/20/2012 French Flash Manufacturing PMI (2100 HI time / 0300 EDT)
Forecast: 44.6
Actual: 45.3
Previous Revision: +0.3 to 44.7
SPIKE/REVERSE
Started @ 1.2681 (2058)
1st Peak @ 1.2695 – 2105 (7 min)
14 ticks
Reversal to 1.2682 – 2119 (21 min)
13 ticks
Notes: Report breaks 2 min early at 2058. The reading came in 0.7 points above the forecast to mildly impress. This caused a 14 tick spike over 7 bars that crossed all 3 major SMAs, but having recently dropped below them, they had not been established as resistance yet. It eclipsed the PP Pivot by 3 ticks to hit its peak. With JOBB you would have filled at about 1.2684 with no slippage. Look to exit at the PP Pivot with 8 ticks – right on the 12 tick average for this report. After the peak, it eventually reversed back to 1 tick above the origin in 21 min for 13 ticks. Then it popped up to the PP Pivot and came back down before the German report broke.