New York Session When Can You Trade Forex

The U.S. session starts at 8:00 am EST as traders begin to arrive at the offices, just as European traders are returning from their lunch periods.

June 30, 2022 - 10:45 AM 268 views

New York Session: When Can You Trade Forex

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The U.S. session starts at 8:00 am EST as traders begin to arrive at the offices, just as European traders are returning from their lunch periods.

Similar to Asia and Europe, the U.S. session features one significant financial hub that the markets pay attention to.

Of course, we're referring about the "City That Never Sleeps!

Baby, New York City! Dreams are built in the concrete jungle!

New York is where about 17% of all currency transactions take place.

The New York session is sometimes referred to by some traders as the "North American" trading session.

This is due to the opening of other significant financial hubs in North America, such as Toronto and Chicago, in addition to New York.

The major currency pairs' New York session pip ranges are listed in the table below.

PAIR

NEW YORK

EUR/USD

77

GBP/USD

68

USD/JPY

34

AUD/USD

68

NZD/USD

62

USD/CAD

67

USD/CHF

56

EUR/JPY

72

GBP/JPY

77

AUD/JPY

71

EUR/GBP

50

EUR/CHF

46

These pip values were computed using historical data averages. Keep in mind that these are NOT ABSOLUTE VALUES and that they might change based on market factors such as liquidity.

The following are some suggestions for trading during the New York session:

  1. Due to the morning's overlap with the European session, there is a lot of liquidity.
  2. Near the beginning of the New York session, the majority of economic reports are released. Since the dollar is used in nearly 85% of trading, each significant U.S. economic data release has the potential to affect the markets.
  3. Liquidity and volatility typically decline during the afternoon U.S. session once European markets close.
  4. Friday afternoon is particularly quiet as European traders go to the pub to watch the soccer game while Asian dealers are out singing in karaoke clubs.
  5. Additionally, on Fridays, there is a potential of reversals in the second half of the session when American traders close their holdings in order to limit exposure to any weekend news and close their positions before the weekend.

Which Pairs Are Best for Trading?

Due to the simultaneous opening of the U.S. and European markets, there will be a TON of liquidity.

You can bet that international corporations and banks are destroying the telephone lines.

This enables you to trade almost any pair, though it's recommended to stick to the major and minor pairs and steer clear of those strange ones.

Additionally, everyone will be interested in the U.S. data that is provided because it is on the other side of the vast majority of transactions.

The markets could be severely shaken if these numbers come in better or worse than anticipated because the dollar will be swinging up and down.

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