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Most Beneficial Currency Exchange Trading Periods - When It Is Actually Recommended To Be Active In Currency Markets?
So what are the ideal forex trading times? The currency market is open round the clock during the business week, but this does not necessarily mean that all of those 24 hours are beneficial for trading. There is significantly more action on the forex markets at certain periods of the day and normally the best times to trade are when the exchanges are busiest.
The 2 major exchanges for forex are London and the US markets. While the UK does not use the euro, most eurozone countries are within one hour time deviation from the UK, as is Switzerland. US time zones also include Canada. Thus the London session and the US session in between of them include most of the main currencies that are traded.
The London trading session starts at 8 a.m. UTC and finishes at 16.00 UTC. The currency crosses that are most active during this session are the EUR, GBP and USD which is takes part in the vast majority of all trades.
The North American trading starts at 13.00 UTC (8.00 EST) and finishes at 10 p.m. UTC (17.00 EST). The most traded forex crosses during these times involve the US Dollar, the Euro, GBP, Australian Dollar, the Japanese Yen and CAD.
The peak exchanging time, as you might suppose, is in the 3 hours when these two trading times overlap and the currency exchanges are open in both London and New York. This time overlap runs from 13.00 to 4 p.m. UTC (8 a.m. to 11 a.m. EST).
If you like to let your orders run for several days it would not make so much difference to you knowing the busiest periods on the markets. But if you are engaged in currency day trading where you may open and close a trade within a few minutes, you will find most possibilities occurring during the most active hours.
If you are trading a cross rate, i.e. a forex pair that does not include the USD, you may have another time window when the financial exchanges in both countries are open for business.
For example if you were trading AUD/JPY you could find that trading was sufficiently active during what is called the Asian session. The Australian and Japanese trading hours are rather close and on a day when activity was expected you could find some lucrative trades during the overlap. However, generally this is a not so active session for virtually all currencies.
Thus the most beneficial time for most forex traders is within that 3 hour window in the morning in the US and the afternoon in the UK and Europe, when the exchanges are open on both sides of the Atlantic. Trading can be chaotic during those hours, there is maximum volatility and the currencies swing far and fast. A lot of the significant market news is released during this period too, especially toward the beginning. So these hours are the most beneficial forex trading times if you want to seize quick profits.
Whatever the time zone you are being active as a trader in, you need to have a profitable forex trading system. If you don't have an own strategy, use forex signals from an accurate forex signal provider. This way you can earn profits in any markets and any time.
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