Regarding Forex Market Hours?
Everyone talks about how the Forex market is open 24-hours, but then what are these “sessions” about? For instance, the New York “session” is only open from 8:00 am to 5:00 pm EST.
Does that mean that you can only enter/exit a trade with a currency pair involving USD during THOSE hours? What I mean is, can you buy/sell EUR/USD or USD/EUR at ANY time during the day, or only when the New York and London sessions are BOTH open?
The sessions have to do with times when markets are especially active. New York session covers typical work day on East Coast. This is when economic numbers are released, trading desks are fully staffed and the real decision makers are at work. It is high volume period, after which, normally, there is less activity. But you can trade around the clock.
FOREX VIDEO – London Session Review – February 12, 2010
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