What caused a spike on EUR/USD at 5.58EST?

Anyone knows what caused it?

spike up or down??

u better get t pic attaced buddy...

Sonic

I saw it too, on two brokers. you can see it clearly on 1M charts

ECB inject $$ into t markets??

Sonic

Market is in an excited state lately. These random spikes happen all the time. Figuring out the real reason is next to impossible and not important anyway.

how big the spike? I dont see it.

right after the red line, 00:58 server time (22:58 london time)

50 pips or so

these usually happen between 2200 and 2300 london time, im guessing its something going offline for the "night"

I saw that too and I've seen it before too. I have no idea what causes these random spikes. I hope someone sheds some light on it.

Funnyboy,

Spikes often happen during times of low liquidity. This can happen if your broker has poor or limited liquidity providers. Basically, the less people in the market means the more wildly you will see the price swing(such as during a news event--less money is being traded)... and if your broker has a limited amount of the market/liquidity to pull from, you will see more spikes in price quotes.

Also, a 1M chart is definitely not a good indication of liquidity and price movement.