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What cause the big move last night?

  • Post #1
  • Quote
  • First Post: Jan 1, 2008 2:35am Jan 1, 2008 2:35am
Hi guys,

I wonder what cause the big move last night? US dollar going slightly stronger last night..
Sometimes before the forex takes a holiday, a spike will occur... strange but it does.
In a word..... PROFIT TAKING.
Same Whore .... Different Dress
Liquidity is very low these days and hence higher volatility. Even small players are able to move the market.

Not sure but a News release could have triggered the move you are referring to.

We should see market in full swing by next week.
Vouch me and I vouch you back !
Yeah I agree. We should see everything back to normal by next week. I try to keep out of market for most of Dec and if I do trade then only with small amount.
Quoting OzFx
Yeah I agree. We should see everything back to normal by next week. I try to keep out of market for most of Dec and if I do trade then only with small amount.
Perfect time to take a vacation or a break from the market..good point
Yeah, I had a few good trades while I was back visiting my family in the midwest. Lord almighty, my father has dial-up.. I dialed in a few times and made a few trades... felt like I went back to the stoneage...

Glad the new year is starting. Best wishes to all of you...
Mr. Trend
Everyone cashes out the profit at the end of the year. A smart trader would consider buying oversold carry pairs like NZD/USD. (IMO)
Window Dressing!!
Quoting Pirin
A smart trader would consider buying oversold carry pairs like NZD/USD. (IMO)
Kiwi simply gave back last Friday's gains and sits at Thursday's level, that's oversold? Show me 7400 and we'll talk oversold.
Quoting johnedoe
In a word..... PROFIT TAKING.
Yes - profit taking was a major cause. CARYY sort of unwinded with most */jpy pairs being sold off. Many traders just closed their trades - and have a clean accounting in their books probably. Dow went to triple digits and then pulled back to the negative 60's region.
Unexpected strong home sales data, nothing to do with holidays or any spike.

First strong home sales data in 9 months.
Quoting forexlion
Unexpected strong home sales data, nothing to do with holidays or any spike.

First strong home sales data in 9 months.
okay.. what i know is the surge in momentum started in the morning(US), 2 hours before the home sales..

anyway, happy new year to you , guys~!~
sell the top,buy the deep!
  • Post #15
  • Quote
  • Last Post: Jan 1, 2008 1:16pm Jan 1, 2008 1:16pm
Quoting forexlion
Unexpected strong home sales data, nothing to do with holidays or any spike.

First strong home sales data in 9 months.
Better sales but bad prices !!
USD lost ground with JPY. If USD-JPY went up, I would agree with you. Not the cases. CARRY sold off
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