Best forex pairs to trade during london session


best forex pairs to trade during london session

in most currency exchange transactions worldwide. All USD and CAD economic news comes out during or near the New York trading session. After European markets close, volatility and liquidity tend to die down during the late-afternoon New York trading session. That said, price will sometimes make powerful moves during the Asian session. Many traders have been very unsuccessful trading these currencies during the volatile 6 am to 2 pm ET period. Major news releases for New Zealand, Australia, Japan, and China come out during the Asian session, so the NZD, AUD, and JPY currency pairs tend to move more than the others during the Asian session. This is only true if your local currency has some nice volatility too. Weve seen records for thousands of traders, and weve seen what works and what doesnt.

USD/JPY This is another popular currency pair that can be seen regularly in the world of Forex trading. About 30 of all forex transactions happen during the London session. New York close charts because many price action setups form as the trading day comes to an end. It is true that the forex market is open 24 hours a day, but that doesnt mean the market is active and worth trading for the entire day. Nial Fuller is considered a leading Authority on Price Action Forex trading strategies. The best days to trade based on average daily trading ranges for the majors are Tuesday, Wednesday, and Thursday, Friday can be good to trade too up until about 12pm EST when London closes. Generally speaking, if the London and New York sessions result in big moves, you will see consolidation during the Asian session. Identifying the best currency pair to trade is not easy.

About 30 of all forex transactions happen during the London session.
Recently I have found the best time for my trades with the Yen crosses are about an hour or two after Tokyo opens (7am EST but closing out or moving my stops before going to sleep during the London sessions.
There are no best currency pairs to trade during London forex market hours, but there are currency pairs that will reduce in spread due to the high volume and allow traders cheaper spread costs.
What are the best currency pairs to trade?

Keep on reading this article to find out the answers to these questions and more! The following currency pairs (listed below) are not necessarily the best Forex pairs to trade, but they are the ones that have high liquidity, and which occupy the most foreign exchange transactions: EUR/USD (Euro US Dollar uSD/JPY (US dollar Japanese Yen). The best way to accomplish this is through hands-on experience. The recommended spread by the trading experts tends to be around 0-3 pips. Unfortunately, our optimal time window does not work well for Asian currencies. Trends can sometimes reverse at the end of the London session, as European traders may decide to lock in profits.

The answer isn't straightforward, as it varies with each trader. You need to take the time to analyse different pairs against your own strategy, to determine which are the best Forex pairs to trade on your own account. The London breakout Forex trading strategy is used to trade the London Forex session during the first few hrs (1-3 hrs) when the Forex market opens in London. Indicators: You do not necessarily need any indicators for The London Day Break Trading Strategy but this Forex trading session mt4 indicator may be helpful.

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