EU June 1'st spike?

What caused this mornings spike in the EU. I was long, but didn’t expect a sudden spike.

I had a postive SL in because of the ism manufacturing pmi, didn’t really react much to that, then about a half hour or so later it just took off.

Bagged some nice pips, but just wondering what was the cause?

My Dukascopy review talked about some negative Chinese economic data but I am not sure of the details. That was pretty crazy though, I was expecting a break downward but not that much:eek:

I was short, and what ever I gained today went back to square one lol
Sheesh man.

As for your question, no clue.
When did you decide to go long by the way?

EDIT: I held on to this short because of short bias on daily and I managed to pick up a falling trendline that has been intersected 4 times now, including one time that just happened. The spike stopped short just as it touched the line, and happily, the 10 day EMA coincides with that too. I’m thinking downside is still stronger.

I went long about 13:20 at @ 1.2198 caught 133 pips. I was actually thinking short when I got up, but was wary because it keeps bouncing off of 1.2197. Also, the 10 MA isn’t working to well as support, which for daily long term trades is where I wait for a retrace.

I think I might put a stop order below 1.2197, for a daily trade, in case of a break.

I’ve been trying some 1H trend stuff with cobra’s tHv3 indicator set, it’s for trend trading too. I used the entry on the 5M and just let it ride because it looked like 1H was about to go long as well… according to the cobra stuff.