I noticed today morning that EUR/SEK is behaving rather strangely. See the attached picture. Between 01.00 and 10.00 EET the price moved back and forth a bit above 100 pips as you can see in every 5 min candles. What makes this interesting is the long period, the regularity of the phenomenon and the fact that the spread for this pair is only 50 pips.
It was about 8 AM when I noticed this and decided to try scalping on this on very small positions: open by selling when the price is at the top of the candle and close at the bottom. I got a number of requotes, but I was able to make a couple of successful trades as intended before I stopped.
Does anybody have any explanation for this kind of price behaviour? Have you seen this before? Or could this just be caused by some peculiarity by the broker?
