Best Times To Trade Currencies
Forex is a 24 hour market and there will be good setups for profitable trades in the Asian, European and US sessions. It pays to look at historical price data on forex charts to see what time of the day you could be watching the market and what time you could be doing something else. The aim is to trade when the average trading range is worthwhile and stay out of the market when price is in a narrow sideways range.
There are good online and downloadable tools at forex market hours
The market opens on Monday morning in Wellington New Zealand .8 am Wellington time is 8pm GMT,9pm BST,4pm EDT (Sunday evening New York time)
The market closes for the week at 4pm EDT on Friday.
where BST is British Summer time ,EDT is Eastern Daylight Time USA.Check your local time at http://forex.timezoneconverter.com
The most active pairs during the London session are EURUSD with 39% of the trading volume, GBPUSD with 23%, USDJPY with 17%, USDCHF with 6% and USDCAD with 5%.
New York is the second largest forex market place. The busiest time is 8am to noon EST. News releases can result in a volatile market.
Sometimes volatility is low in the Tokyo session and sometimes good moves occur. The USDJPY is the most active pair with 78% of the volume followed by EURUSD with 15% and EURJPY with 5%.