hi
i know the london open is at 0800am GMT, and the US is 1300pm GMT, so how come i turn on the charts at 0745am GMT and the cable and dollar are trading ?
Asian session Russia, China Hong Kong, Japan and Australia. There are a lot of Soverign funds in the UAE, Dubai etc aswell.
Normally activity starts 0.00 bst
N
OMG I cant believe you asked that & your title reads senior? Jus kidding, I had problems with it too. To get a better feel of timezones, see the part on taskbar system clock on your desktop that shows to choose different timezones, scroll around with it abit.
The market opens you state there are for Stock Exchanges, thus equities start trading when their respective markets open. Some equities start trading one or so hours before their market opens, I dont know how/why. Maybe they are off/under the table?
Forex on the other hand will display action for a specific currency even when the exchange in that country is closed because the currency is still being used/xchanged in other world markets. Say, the dollar is used in Europe, Somali and the moon, any forex pair for it will be active even when NY is having super. So will all other pairs. When ALL stock exchanges close for the weekend, then forex also stops (except maybe off the table).
Forex pairs will exhibit more action/movement/volatility when the more active stock markets are on because more trade/business happens then, thus these are the more appropriate moments to trade. On mt4, switch on ‘volumes’ indicator on the major pairs h1 timeframe, just to see how the major stock markets affect trade volume in forex.
It’s a constant 24 hour market. The majors, including the GBPUSD attract most of the volumes & increased liquidity during the London & North American trading hours, although prices are still available & tradeable throughout the other regional business centers.
The cash forex market doesn’t really adhere to a set opening & closing time. Some firms & desks will begin trading earlier or later than others depending on their trading requirements & objectives. Because most of the liquidity is at its peak during the London & North American business hours, it affords slightly more favorable conditions for large transactional order flows to be absorbed by the market.
Rather than attempting to pin an exact tag on the London or New York business hours, think of it as an approximate session period.
So, Frankfurt/Paris will generally begin attracting attention around 06.00-07.00hrs London time, bearing in mind the Tokyo regional center will still be trading it’s afternoon session.
London will begin ramping up its volumes from around 06.30-07.00hrs. Tokyo will wind down around 08.30-09.00hrs London, at which time the European session will be in full swing.
New York comes online around midday-13.00hrs London, & the European session begins to wind down around the London fixing at 16.00 through to 17.00hrs.
thanks for the replis
just when you think you know a lot, things like this bite you in the ar…
cant believe i had to ask that either, but, if you dont know - dont be afraid to ask - thanks.
I jumpeted on the charts 0730am GMT htis morning and was shocked to see the action - but as you say, the liquidity dodnt come to forth until later on especially when the cable/dollar overlap
Lucky in still demoing and still learning
forex wales
This morning was quiet as Non Farm Payrolls were due this afternoon. Due to the high impact this report can have most of the major institutions would not be trading and would instead be waiting to digest the report before making any moves - hence the reduced price action.
i dont know if anybody else caught this, but the USD/CHF went south in a big way this afternoon
“forex wales;210877]i dont know if anybody else caught this, but the USD/CHF went south in a big way this afternoon”
NFP
what does NFP mean please
Non-Farm Payrolls - the big US employment numbers. Probably the biggest news release of the month for currency traders. Can get some pretty wild swings around its release.
Thanks
I wondered why I picked up over 400 pips today