Operators' intentions read by 
EURO and GBP made the quick drop during late European session to bounce back during this session as wide range swings for month beginning move.
Tomorrow Japanese session drop and then the recovery moves expected as part of wide range swings expected during this time.In anticipation of US election resuls more wild moves are expected on mid week.
These are the expected moves and may or may not happen in the actual market.Please use your other analysis also to judge the market trends and trade.
Regards
Dr.Sivaraman
Current market conditions are extremely volatile, with volatility (measured by whatever indicators) at near record levels. Yes, as Doc says, it is possible to make money (and to lose money too) very quickly. But, you need a trading plan and good money management. Or stay aside until volatility comes back to normal levels.
One way to trade these markets may be by combining contrarian trading and technical trading. If you read/hear anybody, especially major security houses and fund managers, and Warren Buffet (??) saying that they are buying, while your indicators are pointing down, then follow your indicators. Wait for levels on your indicators to take a short trade. ALWAYS keep stops, but with curent volatility, these have to be large too. For eg, if you trade on one hour put stops based on 4 hr charts. Of course potential for losses are huge, therefore, measure risk to reward, and employ prudent money management to trade in these markets.
Dear Su25
Thanks for extending the advise on money management to help fellow traders.
Regards
Dr.Sivaraman