Preferable Currency Exchange Trading Periods - When It Is Really Wise To Be Active In Forex Markets?
So what are the best currency trading times? The forex market is open round the clock throughout the business week, but this does not necessarily mean that all of those 24 hours are beneficial for trading. There is a lot more action on the foreign exchange markets at specific times of the day and normally the most beneficial times to trade are when the exchanges are busiest.
The two primary trading floors for currency trading are London and the US markets. Although the UK does not use the euro, most eurozone lands are within one hour time deviation from the UK, as is Switzerland. US time zones also include Canada. Therefore the London session and the US session in between of them cover most of the important currencies that are traded.
The London session starts at 8 a.m. UTC and ends at 16.00 UTC. The forex crosses that are most active during this session are the Euro, British Pound and US Dollar which is takes part in the majority of all transactions.
The US trading begins at 13.00 UTC (8.00 EST) and finishes at 10 p.m. UTC (17.00 EST). The most traded currency pairs during these times involve the US Dollar, EUR, British Pound, AUD, the Japanese Yen and the Canadian Dollar.
The strongest exchanging time, as you might anticipate, is throughout the three hours when both of these sessions overlap and the currency exchanges are active in both London and New York. This time overlap runs from 13.00 to 16.00 UTC (8 a.m. to 11.00 EST).
If you like to leave your orders open over several days it would not make that much difference to you knowing the busiest periods on the markets. But if you are involved in currency day trading where you might open and close a trade within a very short period, you will find most opportunities occurring within the most active hours.
If you are trading a cross rate, i.e. a currency pair that does not include the US dollar, you might have another window of time when the financial exchanges in both countries are open for trading.
For example if you were trading AUD/JPY you could find that trading was good during what is called the Asian session. The Australian and Japanese trading hours are pretty close and on a day when activity was foreseen you might find some lucrative trades within the overlap. However, normally this is a not so active session for most currencies.
Thus the best time for most currency traders is during that 3 hour window in the morning in the United States and the afternoon in the UK and Europe, when the exchanges are open on both sides of the Atlantic. Trading can be frenzied during those hours, there is maximum volatility and the currencies move far and fast. Most the important market news is published during this period too, in particular toward the beginning. So these hours are the most beneficial forex trading times if you want to grab quick profits.
Whatever the time zone you are being active as a trader in, you will need a profitable forex trading system. If you don't have a proprietary strategy, use forex signals from an accurate forex signal provider. This way you can make profits in any markets and any time.
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