What cause the big move last night? | Forex Factory

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What cause the big move last night?

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

I wonder what cause the big move last night? US dollar going slightly stronger last night..
  • #2
  • Jan 1, 2008 1:58am Jan 1, 2008 1:58am
Sometimes before the forex takes a holiday, a spike will occur... strange but it does.
  • #3
  • Jan 1, 2008 2:03am Jan 1, 2008 2:03am
In a word..... PROFIT TAKING.
Same Whore .... Different Dress
  • #4
  • Jan 1, 2008 2:03am Jan 1, 2008 2:03am
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 !
  • #5
  • Jan 1, 2008 2:07am Jan 1, 2008 2:07am
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.
  • #6
  • Jan 1, 2008 2:29am Jan 1, 2008 2:29am
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
  • #7
  • Jan 1, 2008 2:41am Jan 1, 2008 2:41am
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
  • #8
  • Jan 1, 2008 4:03am Jan 1, 2008 4:03am
Everyone cashes out the profit at the end of the year. A smart trader would consider buying oversold carry pairs like NZD/USD. (IMO)
  • #9
  • Jan 1, 2008 4:17am Jan 1, 2008 4:17am
Window Dressing!!
  • #10
  • Jan 1, 2008 4:30am Jan 1, 2008 4:30am
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.
  • #11
  • Jan 1, 2008 5:17am Jan 1, 2008 5:17am
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.
  • #12
  • Jan 1, 2008 6:19am Jan 1, 2008 6:19am
Unexpected strong home sales data, nothing to do with holidays or any spike.

First strong home sales data in 9 months.
  • #13
  • Jan 1, 2008 8:39am Jan 1, 2008 8:39am
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~!~
  • #14
  • Jan 1, 2008 8:50am Jan 1, 2008 8:50am
sell the top,buy the deep!
  • #15
  • Last Post: Jan 1, 2008 12:16pm Jan 1, 2008 12:16pm
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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