Forex market remains opened all time. It generally opens on Sunday around 21:00 in the night and gets closed in the afternoon of Friday. The traders in the Forex market can start trading between Sundaysto Friday.
Best time for trading the US Dollar
USA is considered as the second populartrading place in the whole world. It is third trading meeting of a day after European session. Trading in this session consists of twenty two per cent of the entire currency volume of the day. In such a satiation, it is as same as the volume during the session of Asia Pacific. As New York attains the biggest share of the trading volume of the region, it is headquarter for the trading session of US.
Session Hours:
US Session continues from 8 am to 5 pm.
For the risk tolerant brokers: US meetingpresent a reasonable to high danger for the brokers. It can offer unique challenges to the risk tolerant brokers due to the interaction with bond and stock markets.
Pair of currency with good movements of pipat this session:
• GBP/USD
• USD/JPY
• GBP/JPY
An average range of pip is nearly 95 pips. The EUR/USD is a powerful choice during this particular meeting, but can createlarger moves if the European session. Another proved choice is CAD/USD which averages nearly eighty four pips at the session.
For the Risk Averse Brokers:
European session presents moderate to a high risk to the dealers. At this session, the cost alterswith the currencies of Europecan be fast and erratic, mainly after European session gets closed.
The pair of currency with low risk during such a session is:
• EUR/CHF
• EUR/GBP
• NZD/USD
45 pips is an average range of pips.
My Thoughts:
US session is really challenging and exciting. Economic data is generally released in the morning and some reports also causethe Forex market to shift during the session of US. A large number of transactions include USD so it is regarded as a repeated motion. The stock, commodities and bond are connected to the Forex market so any type of events or news affecting these markets will shift USD.
My Advanced Practices of trading:
My main focus during the session of US is on the trades that are powerful trending on hourly or regular charts. I can generally find a currency pair with ADX of thirty to thirty five. These types of trends will be stronger once the data gets released.