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If you are starting in Foreign Exchange trading, you may be wondering what is the best moment during the day to place your trades.
Depending on the country and continent where you live, some markets are more accessible than others because of the hours. However, most investors and traders trust the New York session to be the best hours for Forex trading.
Forex pairs in trading
In Forex, the pairs are between different currencies, the most popular being the EUR/USD pair. These pair moves significantly during the hours where the New York session and the London session overlap.
You can make investments whenever you like, however during the New York session is when you can find more volatility on the rates, which give better opportunities to gain from your investments fast and safe.
On the other hand, the market goes slow on Fridays after the close of the London session.
Forex pairs in the New York Session
The New York session starts operations at 12.00 UTC / 8.00 AM ET and closes at 21.00 UTC / 5.00 PM ET. During these hours, there is a lot of movement on Forex Trading, especially with United States Dollars (USD), Canadian Dollars (CAD), and Gold (XAU).
The best pairs you can make during the New York session are those currencies that are paired with the USD. Between the hours where it overlaps with the London session, the pair EUR/USD is the safest to invest.
Other pairs that may work excellently during the New York season are the combinations between USD, CAD, XAU, and EUR. You can also include the Sterling Pound (GBP) and the Swiss Franc (CHF) into the pairs. However, once the London session is over, there is a decrease in the EUR. It is because most of stores and businesses in Europe have closed by that time. In this case, it is best to make your investment in pairs with Asian currencies like the Japanese Yen (JPY).
Some of the best pairs you can invest during the New York session besides the EUR/USD are USD/JPY, USD/GBP, USD/CHF, EUR/JPY, and GBP/EUR.
