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Mar 16
New York Session
Forex Market: NewYork Session
Tuesday, 08 February 2011 18:57

There is no official opening and closing of the forex market and it remains open 24 hours a day, five days a week except of the Weekends that lasts from Friday 4 PM EST to Sunday 5 PM EST. The forex trading begins from Sydney that is included in the Asian session. The market then moves to the Tokyo, London and new york session. Trading is done is volumes during the peak hours of each session that varies from session to session. The forex market experiences the highest volatility and trading when two or more sessions overlap each other. The market has increased liquidity to the highest point when London and new york session overlap at a certain time.
The Asian session is the mildest in terms of liquidity and volumes where as both the US and London market are the most impulsive markets in terms of forex trading. The best time to make big money in forex trading is that when London and newyork market overlap for a few hours. The US market always initiates with new releases like the property sales, trade balances, CPI and PPI etc. The major currency pairs in new york session are EUR/USD, GBP/USD, USD/JPY and AUD/USD. There is also the release of economic reports at the start of newyork market that makes it more volatile and grant the potential that moves the market faster. If you want to invest in the US market try to invest as the newyork market starts because the volatility tends to die near the afternoon as the London session closes when there is afternoon in New York. Friday afternoons are rather quiet in New York forex market as both the Asian and the European sessions are calm at Fridays. US traders prefer to seal their positions before the weekend therefore there is a chance of setbacks during the Friday afternoons of newyork market.

Try to stick those major currency pairs to trade well during the new york session. The USD is included at one side of the currency transaction so traders will be looking forward towards the US releases and US News. The dollar will continuously jump and down in the newyork market depending on the good and the worse data released by USA. Depending on the released data the new york market moves 50 pips in just first five minutes from its start.

Get comprehensive details on New York markets and New York session by browsing the relevant data at Forextradingevo.com