So what are the best forex 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 advantageous for buying and selling. There is a lot more action on the foreign exchange markets at certain times of the day and typically the most beneficial times to trade are when the exchanges are most active.
The two largest trading floors for forex are London and the US markets. Even though the UK does not use the euro, most euro lands are within one hour time deviation from the UK, as is Switzerland. US time zones also come with Canada. So the London session and the US session in between of them cover most of the main currencies that are traded.
The London session starts at 8.00 UTC and ends at 16.00 UTC. The forex crosses that are most busily traded during this session are the Euro, British Pound and US Dollar which is engaged in the majority of all trades.
The US session gets started at 13.00 UTC (8.00 EST) and finishes at 10 p.m. UTC (17.00 EST). The most actively traded currencies during these times involve the US Dollar, EUR, GBP, AUD, JPY and the Canadian Dollar.
The peak exchanging time, as you could expect, is in the three hours when these two sessions overlap and the currency exchanges are active in both London and New York. This time period runs from 1 p.m. to 16.00 UTC (8 a.m. to 11.00 EST).
If you like to let your orders run over several days it may not make that much difference to you knowing the busiest periods on the exchanges. But if you are involved in currency day trading where you might open and close a trade within a few minutes, you will find most opportunities occurring within the most active hours.
If you are trading a forex cross, i.e. a currency pair that does not include the US dollar, you may 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 may find that market activity 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 expected you might find some lucrative trades within the overlap. However, generally this is a more sluggish trading session for just about all currencies.
Therefore the best time for most forex traders is during that three hour window in the morning in the United States and the afternoon in the UK and Europe, when the exchanges are most active on both sides of the Atlantic. Trading can be frantic during those hours, there is maximum volatility and the currencies move far and fast. A lot of the important market news is broadcasted during this period too, especially toward the beginning. So these hours are the most suitable currency 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 an own strategy, use forex signals from an accurate forex signal provider. This way you can make money in any markets and any time.
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