I feel so new and a bit embarrassed asking questions, but I really want to know what is causing something I’ve noted on EUR/USD charts lately. There are long periods of nearly horizontal ranging and then BAM!, there will be a price spike. The example I’ve included is a 4h chart, but it happens on the 15m chart as well. I’ve noted that the spikes are usually also reflected in the GBP/USD and USD/JPY charts right around the same time frame.
Can someone explain what is occurring here? Is it market sentiment? Is it some event that happens periodically that I just haven’t figured out yet?