Best Currency Exchange Trading Times - When It Is Really Recommended To Be Active In Currency Exchanges?
So what are the ideal forex trading times? The currency market is open round the clock during the business week, but this does not automatically mean that all of those 24 hours are good for trading. There is considerably more action on the currency exchange markets at certain periods of the day and normally the ideal times to benefit from trading are when the markets are busiest.
The 2 primary exchanges for forex are London and the US markets. While the UK does not use the euro, most eurozone countries are within 1 hour time difference from the UK, as is Switzerland. US time zones also include Canada. Accordingly the London session and the US session in between of them include most of the major currencies that are traded.
The London trading session starts at 8 a.m. UTC and finishes at 4 p.m. UTC. The currencies that are most active during this session are the EUR, GBP and USD which is takes part in the greater part of all trades.
The North American trading begins at 1 p.m. UTC (8.00 EST) and finishes at 22.00 UTC (17.00 EST). The most traded currency crosses during these times involve the US Dollar, the Euro, GBP, Australian Dollar, the Japanese Yen and CAD.
The most active trading time, as you might suspect, is throughout the 3 hours when these two trading times overlap and the currency exchanges are open in both the UK and the US. This period 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 being aware of the busiest times 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 busiest hours.
If you are involved in 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 instance if you were trading AUD/JPY you might find that trading was satisfactory 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, typically this is a slower session for nearly 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 United Kingdom and Europe, when the markets are open on both sides of the Atlantic. Trading can be overheated during those hours, there is maximum volatility and the currencies swing far and fast. A lot of the significant market news is published during this period too, mainly toward the beginning. So these hours are the best forex trading times if you want to make 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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