EUR/USD Drop question

So i’m just a learning noob in the middle school right now. I was watching some news with fxstreets ecc…
Can anyone explain me the drop of the EUR/USD of yesterday 23/10/2019 at GMT+2 20.15? It dropped like 200-300 pips in 15 minutes

This would be associated with the UK House of Commons votes on Brexit at about this time - firstly, whether to pass the Withdrawal Agreement Bill forward for a second reading en route to becoming law and defining the terms of the UK’s Brexit, and secondly to approve the Government’s timetable for the passage of the Bill.

the Bill was passed so on the face of it the majority of MP’s support the Prime Minister’s deal. But the second vote was rejected, so the Bill will take more time to be finalised than is available before the PM’s target Brexit date of 31/10, therefore he will need an extension beyond that date from the EU Council in order to finalise the Brexit terms into UK law. As a result of losing the timetable vote, the Government has put the Bill on hold. The next expected devleopment is a reply from the EU Council to say if there will be ab extension and how long it will be.

If you’re not following this in real time, stay away from EUR- and GBP-based pairs at least until the final Brexit deal and its date are finalised.

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What drop are you talking about? I don’t see it in my charts. You must have received erroneous data from your provider.

Then so must I. Where do you get your charts?

I get prices from OANDA, my fx broker.

Well that’s certainly weird, Oanda aren’t known for poor data.

If you go to the 15-min chart and see about 7pm UK time last night. You should see that price drops from the close of the 1900 candle at about 1.11534 to 1.11210 by 45 minutes later.

Yes, but that’s not 200 - 300 pips like the OP said. I took that short from 1.1151 to 1.1113.

Or am I missing something in this conversation? Wouldn’t be the first time. :smile:

Hmmm, I don’t ever count pips (I’m spreadbetting forex) and didn’t check the adding up.

This is about 30pips short and not 300pips.
The last digit is the pipette and shouldn’t be treated as a full pip.

I also cannot see that this move actually happened on 23/10. You need to pay attention which chart frame you are watching. For short term moves it is better to set your chart on a daily chart or lower time frame