for the retail folk like you and I the “spot FX” market doesn’t open for trading till 5:30 EST – however, the banks and big institutions start rolling around 1-2 EST. If you have a good charting package, you can see these moves occurring even though you can’t actually trade them. Normally, the market will shuck and jive and hardly anything happens during this timeframe and then perhaps you’ll see some movement once Japan comes into the scene around 8 EST.
anyway …was going thru my chart set up for the week and when I opened up the GBP vs USD I noticed a 130 point gap down in the inter bank flow … that’s odd. some big institution dumped POUNDS … watch the Pound and watch London this week. Just a hunch …
