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10/24/2012 German IFO Business Climate (2200 HI time / 0400 EDT)
Forecast: 101.5
Actual: 100.0
Previous Revision: n/a
SPIKE WITH 2ND PEAK
Started @ 1.2967
1st Peak @ 1.2942 – 2203 (3 min)
25 ticks
2nd Peak @ 1.2928 – 2218 (18 min)
39 ticks
Reversal to 1.2946 – 2239 (39 min)
18 ticks
Notes: The reading came in 1.5 points under the forecast to disappoint. This caused a 25 tick short spike on 2 bars (mostly on the :01 bar) that crossed the S1 Pivot about halfway down, then bottomed as it extended the LOD by 21 ticks. With JOBB you would have filled short at about 1.2960 with 2 ticks of slippage. Look to exit with about 15 ticks near the bottom of the :01 bar. After the initial peak, it pulled back for 8 ticks, then fell again for a 2nd peak of 39 total ticks at the S2 Pivot 18 min after the report. The reversal gave back 18 ticks relatively quickly in the next 21 min to nick the 50 SMA. Then it chopped sideways between 1.2946 and the S2 Pivot for the next 2 hrs.