Jul 062012

CL 08 12 (1 
Min) 07.06.12

7/6/2012 Monthly Unemployment Report (0230 HI time / 0830 EDT)
Non Farm Jobs Forecast: 5.1K
Non Farm Jobs Actual: 7.3K
Previous Revision: n/a
Rate Forecast: 7.3%
Rate Actual: 7.2%
Started @ 0.9836
1st Peak @ 0.9845 / Reversal to 0.9825 – 0231 (1 min)
9 ticks / -11 ticks

2nd Peak @ 0.9805 – 0252 (22 min)
31 ticks

Reversal to 0.9825 – 0319 (49 min)
20 ticks

Notes: Mildly positive report showing a small rise in the number of jobs and 0.1% improvement in the unemployment rate. This broke at the same time as the US Non Farm Employment report which was strongly negative. This caused initial indecision followed by a short move that was driven by the dollar rallying. I advised against trading this report due to the US NFP parallel and superior influence. This initial action was hampered by the 3 major SMAs near the origin, then the S1 Pivot was crossed about halfway down the path that terminated just above the S2 Pivot. The reversal rose to just below the S1 Pivot.