Hello there!
I have a question about the trading sessions and bank holidays.
Is it true that when there is session going on the currency which that session represents will be more likely to make bullish movements. For example, during the New York session the major currency pairs will most likely make the USD rise. Or on a bank holiday such as Colombus day, with the absence of USD and CAD banks that these pairs will be more likely to fall.
Is this something that is really happening or should I see the sessions only as a timeframe where certain pairs will be more liquid. Would like to know your opinions about this!
Hey!
Its not true that the USD will rise just because its a New York session, but USD will make bigger moves because the volume is higher during that session.
Trading at the right session is really important to find great trades because institutions need liquidity to execute positions. This is why you see big moves when the high volume comes in, for example on Euro pairs the London open have huge increase in volume and this will lead to trending moves most of the time for the day. If you trade Cad then pay attention to US market open or if your trading Aud for example then Asian session is great. Most of the time I find best trades of the day from first hours of London open because my main trading pairs are Euro and Pound. I have also made video on forex trading times with examples: