Okay - I'm sure there is a logical answer but, I live in NY - why are the EUR/USD charts still active when their markets are closed? Such as at 7PM EST nights? Or on Sunday afternoon EST? Once the markets are closed - aren't they closed?
Currencies are traded globally, so you can buy and sell the Japanese Yen, Euro, US anywhere around the world. There's always a market open somewhere during the trading week. For a more in depth explanation check out our lesson on market hours:
The EUR/USD has more volatility during 8am-12am EST time, but it doesnt mean that when the USA market closes, the pair does too. You can trade EUR/JPY and USD/PJY for example, sunday night, thats why the EUR/USD keeps moving.
Okay - thanks everybody for the explanations. I have done the School Of Pips once and am going to do it again. I just had the idea that if the two markets that are on your chosen chart were closed, you should see no activity unless you changed it to another pair that were open, but I see what you mean. My wife and I have decided to try a little investing ourselves since our retirement fund is tanking anyway. Along with this site and the stack of Forex books next to me, I hope to slowly grasp what's what - just don't want to rush it. Thanks for the forexfactory.com too. Another site to ad to my growing Forex folder.