35 pip spike on majors?

i don't know. maybe a billion+

Really? A billion+ ?
Then this big US insurance name doesn't look real healthy. The Euro has gone back to where it was when the spike started(2815). If they bought up to say 2830, or more, then a trader at the insurance name has just lost his job:-)

IFR has an investment bank offering USD through multiple sources. Not that its any more reliable then any other explination...

At the moment liquidity is extremly light. A few hundred mio strategically offered could easily move the whole market 35 pips this evening.

Also you shouldn't presume that an institution operates like you do. If an insurance company is selling, it isn't to collect a few pips. They are transacting real money so the trades are one way. The guy would probably be hailed as a hero for only moving the market 35 pips in these conditions.

a quote from somewhere:
EUR/USD`s earlier brief blip higher to 1.2837 from about 1.2814 was likely due to a mistaken trade, says senior trader at major Japan bank. Says didn`t see flow directly, but heard rumor that "major U.S. player" bought "huge amounts" of EUR/USD, then sold again little later. Adds, size of move indicates trade was worth over $500 million, could be as much as $1 billion. Tips EUR/USD in 1.2800-1.2850 band for rest of Asia; last 1.2826

Well, whatever the explanation is, this could be the prelude of a big move... maybe from this days... to mid january's

It was a fault in the interbank system. Nothing more. The down was caused by investors however (This is what 2 brokers are telling me).

If this insurance company or whatever put the money in during a quiet time, it would have gone further than it did.

All I know is was laying down and my alerts starting going nuts, next thing you know it went back down and i was just confused as hell. Went through 3 news feeds including the one mentioned in this thread. All said the same.Don't know what sources oanda have that the rest of the world doesnt.

i remember many years ago when the uk markets closed the ftse spiked about 3000 pips a split second before market close, it was reported as a glitch, thought i had become a millionaire over night! oh them were days!

but it happens

u guys just see the spike at 6:06 am GBP spiked 20 pips everyone else spiked a bit as well?

good point. i remember the same kind of thing happened in the gold market at the start of the crazy move from $300 to $600 per ounce.

When elephants walk across your lawn they leave footprints!

Nother spike just happened $ negative this last hour 20 to 30 pips across the board chaeck it out

Nother spike just happened $ negative this last hour 20 to 30 pips across the board chaeck it out

exact spike is 1:35 pm

Lol

they look like some really thin volume spikes, ive seen these before in low volume or when the market isnt as liquid like right before holiday, I have to admit that the past 2 weeks have seen some really wack price action we didnt get that nice retracement back down to 2600 on the euro I mean if it wasnt for the housing data that 100 pip move wouldnt even have happened... really crappy trading i hope it picks up after the holiday a bit...

freakin euro is one resilient SOB,,, didnt drop for crap in over 2 weeks that has to be the worst price action ive ever seen normally in a 400 pip rallly youll get at least a 200 pip retracement in this case price just is hanging up there chopping around doing crap... lol I guess patience is really a virtue

we have had a huge rally from 2490 to just over 2900 and it hasnt even retraced 38% fib of that move yet if u look at the 4hr !! sick... excuse me while i step out the window hahaha

personally a healthy 38 to 50 percent retracement of this move would make for a nice reattempt at the 3000 level IF this beast wants to move higher i dont like buying into over bought crap especially on a swing move higher ;-)

So why are some of the big players buying then? Do they know something we don't or are they just as confused as we are?

I don't think they are really buying. I just think that no one is selling. All i know is, on the euro, the offers and bids keep getting lower. You can see only that in the price action.
These random spikes should be about 10-15 pips shorter, but i think broker manipulation has come into practice with this pathetic market. IF a trader can't make money. A broker will spike your orders, so at least they make money.

I am just going to go argue with my broker now from that pathetic spike down.