Can anyone here shed some light on why the Euro seems to sell off like clockwork beginning almost exactly at 5:00 a.m EST lately?? I think that would be 9:00 am in London. I mean, is there some event at that time that brings new traders into the market? Thanks in advance.
Not sure if you already know this, but regularly scheduled, potentially market-moving economic releases in Europe, UK and Germany normally come out at 9:30, 10:00 or 10:30 am local time. Check any of global economic calendars mentioned on ET from time to time. For example, this is what I use: http://www.forexfactory.com/index.php?page=calendar Incidentally, 5 am EST is 10 am in London.