Hello all, this is my first post and while I know news will cause spikes in prices today I saw prices spike when there wasn't any news scheduled. Is there a way to know what caused the spike? I like to avoid opening positions around the time of a news release and the spikes today confused me since it wasn't during a news release. Any and all help is greatly appreciated.
Thanks all!
It may be normal but around 9:30 am eastern time this morning, three pairs that I was watching suddenly spiked 25+ pips within a matter of 20 minutes. I would really like to know the cause of the spikes.
- EURUSD @ 9:30 am went from an open of 1.22524 to a high of 1.22816 by 9:50
- USDCHF @ 9:30 am went from an open of 0.98004 to a low of 0.97879 by 9:50
- EURJPY @ 9:30 am went from an open of 97.052 to a high of 97.282 by 9:50
I know these aren't big moves but the crazy thing is that I opened a trade on all 3 at 9:30 and all 3 immediately went against me. I'm just trying to understand why and how to avoid such a thing in the future. I hope to learn from this. It just doesn't seem to be coincidence to me.
Thanks again.
Thanks all!
It may be normal but around 9:30 am eastern time this morning, three pairs that I was watching suddenly spiked 25+ pips within a matter of 20 minutes. I would really like to know the cause of the spikes.
- EURUSD @ 9:30 am went from an open of 1.22524 to a high of 1.22816 by 9:50
- USDCHF @ 9:30 am went from an open of 0.98004 to a low of 0.97879 by 9:50
- EURJPY @ 9:30 am went from an open of 97.052 to a high of 97.282 by 9:50
I know these aren't big moves but the crazy thing is that I opened a trade on all 3 at 9:30 and all 3 immediately went against me. I'm just trying to understand why and how to avoid such a thing in the future. I hope to learn from this. It just doesn't seem to be coincidence to me.
Thanks again.