Sonicscooter
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I dont think theres any rhyme or reason to it, people come along and speculate, they buy a position and put in a stop or sell a position and put in a stop and the algos move the prices round until the stops get taken out and the MM's make a profit.
Theres no justification for the moves over the past few days, weeks, months.
Stop hunting is par for the course it Forex, so i guess it would be naive to think the Man wouldn't try to screw us that way in the indices.