As a Forex newbie, I had a lot of questions about currency pairs. How to read currency pairs, when to trade which currency pairs etc. Reading forex books and articles, I could get a clear view of when to trade which currency pair. This is a very important factor as this determines our immediate Profit or Loss in Day trading.
Most of us will have a specific time which is comfortable for us to trade currencies. If we are wise enough we would be trading the correct Pair for that time. This is determined by many key factors.
I have consolidated the information to make it easy and handy for us.
Time: 7.00 PM EST - 4.00 AM EST
Best currency pairs to trade :
USD/JPY
AUD/USD
GBP/CHF
NZD/USD
GBP/JPY
Currency Pairs to avoid:
EUR/USD
EUR/CHF
EUR/GBP
Time: 8.00 AM EST - 5.00 PM EST
Best currency pairs to trade :
GBP/USD
GBP/JPY
USD/CHF
GBP/CHF
Currency Pairs to avoid:
EUR/GBP
EUR/CHF
Time: 2.00 AM EST - 12.00 AM EST
Best currency pairs to trade :
EUR/USD
USD/CAD
GBP/USD
USD/CHF
GBP/CHF
Currency Pairs to avoid:
JPY based currency
The market is highly active between 8.00AM EST and 12.00PM EST.
The market is at its slowest between 2.00AM EST and 4.00 AM EST.
Do you have any strategy for trading any currency pair at a given time?
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