TIP: What are the best times of the day to trade certain pairs?
|GBP/JPY can have tremendous moves during the Asian session, but it's hard for traders located outside the Asian zone to keep up and profit from it. Nevertheless, it keeps moving with its typical volatility around the clock.
In turn, the EUR/USD and the GBP/USD offer nice technical set-ups right at the start of the Frankfurt and London markets which often sets the tone for the rest of the day. These pairs very often display continuation moves, the so-called 'second-legs', during the morning session in New York when both sessions, the European and the American, overlap and many US Dollar related economical news are published.
The reason why we see big moves at the London open is because London is the world's capital of Forex trading, and when those big traders start throwing their weight around, the market responds with volatility. Also U.K. economic indicators are often released at that time of the day, contributing to the overall climate of high volume and volatility. Read More
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