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

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

  • #1
  • First Post: Sep 16, 2008 12:59am Sep 16, 2008 12:59am
Anyone knows what caused it?
  • #2
  • Sep 16, 2008 2:56am Sep 16, 2008 2:56am
Quoting funnyboy
Anyone knows what caused it?

spike up or down??

u better get t pic attaced buddy...

Sonic
  • #3
  • Sep 16, 2008 3:32am Sep 16, 2008 3:32am
I saw it too, on two brokers. you can see it clearly on 1M charts
  • #4
  • Sep 16, 2008 3:44am Sep 16, 2008 3:44am
ECB inject $$ into t markets??

Sonic
  • #5
  • Sep 16, 2008 3:44am Sep 16, 2008 3:44am
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.
  • #6
  • Sep 16, 2008 8:23am Sep 16, 2008 8:23am
how big the spike? I dont see it.
  • #7
  • Sep 16, 2008 4:05pm Sep 16, 2008 4:05pm
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"
Attached Image (click to enlarge)
Click to Enlarge Name: spike_.png Size: 24 KB
  • #8
  • Sep 16, 2008 7:32pm Sep 16, 2008 7:32pm
Quoting funnyboy
Anyone knows what caused it?
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.
  • #9
  • Last Post: Sep 17, 2008 3:47pm Sep 17, 2008 3:47pm
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.
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