New York session in Forex Market
New York is the second largest forex market center after London; it opens at 8:00 AM – just in the middle of the London session. It also marks the end of the current trading day, as trading activity slows down in its afternoon session until the fresh opening of the markets in Asia.
Tips/Facts you should know about Forex trading during the U.S. session/New York Session:
- There is high liquidity during the morning, as it overlaps with the European session.
- Most economic reports are released near the start of the New York session. Remember, about 85% of all trades involve the dollar, so whenever big time U.S. economic data is released, it has the potential to move the markets.
- Also on Fridays, there is the chance of reversals in the second half of the session, as U.S. traders close their positions ahead of the weekend, in order to limit exposure to any weekend news.
Below is a table of the New York session pip ranges of the major currency pairs.
Take note that these are NOT ABSOLUTE VALUES and can vary depending on liquidity and other market conditions.
Best Forex pairs to trade during the New York session
The best forex pairs to trade during the New York session would be your majors, like EUR/USD, USD/JPY, GBP/USD, EUR/JPY, GBP/JPY, and USD/CHF. These pairs will be the most liquid during the US session, especially the EUR/USD during the overlap.
What is the Safest Forex Pair to Trade During the New York Session?
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.
Next Read:
Session Overlap.
May 11, 2021
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Forex Session
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