Best Currency Exchange Trading Periods - When It Is Really Advised To Be Active In Foreign Exchange Markets?
So what are the right forex trading times? The foreign exchange market is open 24 hours a day throughout the business week, but this does not automatically mean that all of those 24 hours are good for buying and selling. There is considerably more action on the foreign exchange markets at certain times of the day and generally the appropriate times to benefit from trading are when the markets are most active.
The 2 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 1 hour time difference from the UK, as is Switzerland. US time zones also come with Canada. Accordingly the London session and the US session in between of them cover most of the main currencies that are traded.
The London trading starts at 8.00 UTC and ends at 4 p.m. UTC. The currencies that are most busily traded during this session are the EUR, GBP and USD which is engaged in the majority of all trades.
The US session gets started at 1 p.m. UTC (8.00 EST) and finishes at 22.00 UTC (17.00 EST). The most actively traded currency crosses during these times involve the US Dollar, EUR, GBP, AUD, JPY and the Canadian Dollar.
The busiest trading time, as you could suspect, is in the three hours when these two sessions overlap and the markets are active in both the UK and the US. This period runs from 1 p.m. to 4 p.m. 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 being aware of the busiest times on the exchanges. But if you are engaged in currency day trading where you might open and close a trade within a few minutes, you will find most trading opportunities coming up within the busiest hours.
If you are involved in a forex cross, i.e. a forex pair that does not include the US dollar, you may have another window of time when the financial centers in both countries are open for trading.
For instance if you were trading AUD/JPY you might find that market activity was satisfactory during what is called the Asian session. The Australian and Japanese trading hours are quite close and on a day when activity was expected you may find some profitable trades within the overlap. However, usually this is a slower trading session for nearly all currencies.
Therefore the most suitable time for most forex traders is during that three hour window in the morning in the United States and the afternoon in the United Kingdom and Europe, when the markets are most active on both sides of the Atlantic. Trading can be overheated during those hours, there is maximum volatility and the currencies move far and fast. A lot of the important financial news is broadcasted during this period too, particularly toward the beginning. So these hours are the best currency trading times if you want to make 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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