-062212.jpg "Click to enlarge")
6/22/2012 German IFO Business Climate (2200 HI time / 0400 EDT)
Forecast: 106.1
Actual: 105.3
Previous Revision: n/a
SPIKE WITH 2ND PEAK
Started @ 1.2545
1st Peak @ 1.2560 – 2202 (2 min)
15 ticks
Reversal to 1.2544 – 2213 (13 min)
16 ticks
2nd Peak @ 1.2567 – 2306 (66 min)
22 ticks
Reversal to 1.2550 – 2338 (98 min)
17 ticks
Notes: The reading came in nearly a point under the forecast to disappoint. This initially caused a 6 tick drop, then a 15 tick spike on 2 bars that eclipsed the 200 SMA and could not sustain the ascent. With JOBB you would have filled at about 1.2552 with no slippage. Look to exit with about 4-5 ticks at the 200 SMA. It then reversed for 16 ticks back to the origin about 10 min later, chopped sideways for another 30 min, then finally broke long for a 2nd peak of 7 more ticks about an hour after the report. Then it reversed for 17 ticks.