Best Time Of The Day To Trade Forex
July 25th, 2007 | by admin |Did you know that the EUR/USD currency pair is the most traded currency pair in the world? Of the 6 major currency pairs being traded, the EUR/USD accounts for almost 30% of the total volume transacted in the forex market. As a result of its popularity and high liquidity, the EUR/USD pair also has the narrowest spread, about 1.5 - 3 pips depending on your broker. The most active period of trading for the EUR/USD pair is the when Europe’s trading period overlaps with New York’s trading hours. This is from 11:00 am to 3.00pm GMT or UTC.
During this period, any positive US news or sentiment such as an increase in US GDP will cause the US dollar to strengthen against the Euro and vice versa. Typically, the daily trading range for the EUR/USD is around 100 pips.
