11/10/2011 Monthly Trade Balance (0330 HI time / 0830 EST)
Previous Revision: +0.7B to -44.9B
Spike / retrace
Started @ 97.87
1st Peak @ 98.28 – 0331 (1 min)
Retrace to 97.78 – 0334 – 0339 (4-9 min)
Notes: Report exceeded forecast, and previous report revised slightly upward. Report broke on Thursday at the same time as weekly unemployment claims (slightly positive at 390K). I would not trade this report with 2 medium movers breaking at the same time. The long wick on the 0331 candle is typical of the unemployment report.