what the heck is going on with this spike?

What is going on right now? are they trying to clear accounts or what?

anything on the news?

http://i34.photobucket.com/albums/d130/bmwboyee/wtf.jpg

no news.

damn good question, anyone?

I think China is selling $. All this hype in price from last week is due to China. Everyone knows that they 1Trillion reserve in $.Now this is confirm. There is no news. I check with CNN and dow jones.

I'm not really sure. There haven't been any news releases or anything. It stopped out my open trade though.

lets see if it crashes down just as fast.

is this a signal to close shorts?

anybody found anything yet? i sure haven't.

I think you're right. It happened a couple of minutes after HK market opened.

China has dragged all this price up from last week. Otherwise price can not go up this high with no news. No bank or hedge fund can drag price this level.

This is why the spike happened:

[02:16 EUR/USD: Breaks Higher Led By USD/JPY Selling] Sydney, November 30: The EUR/USD popped up to 1.3170 when the USD/JPY gapped 25 pips lower when a large USD/JPY sell order hit the market after all of the fix related buying filtered through the market. There is hourly resistance in the EUR/USD at 1.3175 an a break above that level returns the pressure to the topside. The EUR/USD trades 1.3170/75. [email protected]

It seems to me that as you trade during the Asian Session, if you trade the EUR/USD you could watch the USD/JPY pair to see which direction it might go...Also GBP/USD trade identically alike if you look at the charts...What do ya'll think?

FXCM and FX Solutions are both saying the majors are being affected by a large sell order at 116.50 on the USD/JPY. They are also saying that when the large sell order hit the tape, intraday longs "threw in the towel" and closed their positions, thus fueling the downward move in USD/JPY. The sudden rise in EUR/USD and GBP/USD are spillovers from the move in the USD/JPY.

price usally goes up before it goes down

double top 1.9485

my spreads are so far out of wack right now.... 8 pips on USD/GBP at interbankfx.

One other thing, what was that substantial move down in GBP and EUR just before it spiked? Was that a bait and switch? I don't want to be conspiratorial, but that seemed like a move to bait more people into a short before they let the hammer down.

Mostly during US news minutes

Oanda spreads stayed put at 1.5 for EUR

I think it's cause Twoblink is back. I was starting to miss him. Always makes u think.

Anybody in any trades right now? Any EUR/USD trades on the table right now? I saw that someone got stopped out from the quick spike...?