Remember: London is responsible for about one third of all the Forex volume.
This means that 2 PM on a Friday in New York is already late afternoon in London, and London traders are closing their positions for the week. At the same time it is already Saturday morning in Asia, so we can't expect any volume from that part of the world. The closing of London positions in a less liquid environment - due to the absence of Asian traders - gives way to violent price reversals and erratic moves.
It is recommended to close short term positions until Monday and avoid to open new trades on Friday afternoon London time. In any case, it will depend on the strategy you're using. If you take the above edge and focus on profiting from the closing of London positions, then Friday might be a good time to trade. Read More
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REPORT: What Time Is A Good Time? - Sam Evans
REPORT: Forex Trading Hours – When to Avoid Trading - Yohay Elam
REPORT: The London Session - Sam Seiden
Editors’ Picks
EUR/USD holds gains above 1.0700, as key US data loom
EUR/USD holds gains above 1.0700 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
US Q1 GDP Preview: Economic growth set to remain firm in, albeit easing from Q4
The United States Gross Domestic Product (GDP) is seen expanding at an annualized rate of 2.5% in Q1. The current resilience of the US economy bolsters the case for a soft landing.
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