I've seen large orders hit during the Asian session including similar 5,000+ orders
whatever the block/s volume might have been
not usually up at this time of day and it was definitely a surprise to see the price
reverse direction as it did, and according to the Dow Jones newswire via Oanda -
"Euro Jumps On Sarkozy Remarks About Defending Euro" 6:12am
then of course the price reverses from the top to continue the downtrend, which all
adds up to 'buy on rumour sell on news' - or in the euro's case, 'sell on rumour buy
on news' with the news being whatever Federal Reserve Chairman Bernanke has to
say on Friday

I have a different way of looking at news. Basically, news just accelerates movements from areas of support to areas of resistance. However you can only see these areas on bigger time frames and I use about 8 charts on one instrument when I trade to see these pull backs. Personally, I love trading the news. But it's not for everyone and nothing in trading works 100% of the time. So take it for what it's worth.