Forex trading is not as easy as you think. There are several trading sessions that you have to choose from before trading.
London session, New York session, Sydney and Tokyo sessions are most prominent. The New York session is considered the most popular because of its high-level liquidity and volatility.
It is important to figure out the best trading pairs of any trading session.
Let’s see the best pairs to trade during the New York session!
EUR/JPY, USD/JPY, GBP/USD, EUR/USD, GBP/USD, and USD/CHF are the most trending currency pairs for trading during the New York session. This is because of high trading pips, and high liquidity. EUR/USD is the most liquid pair for trading successfully.
London trading session and new york trading session in the forex market contain different characteristics. Each session has a liquidity level that helps to minimize spreads and enables a trader to get fewer expenses of any trade.
If the liquidity and volatility of any session are increased, it will prove beneficial for many forex traders.
To know about New York Session pairs, let’s read this post deeply!
Forex Trading During New York Session
Do you know New York is a city that never sleeps?
Yes, it is.
It is the only place where you can make your all dreams true. An amazing fact about this city is that around 17% of transactions made by forex traders are done in New York.
The New York session is also mentioned as the North American trading session. Do you know why?
Let me explain!
No doubt it’s a New York session but many of its main economic institutes are settled in North America like Chicago.
It is the most famous liquid trading period in the forex market. It is famous in the trading world because it has a high level of liquidity in the trading platforms.
Best Forex Pairs to Trade During New York Session
It is essential to trade in the forex market to have proper knowledge about trading sessions of the area where you start your trading system.
Currency pairs are also important to trade successfully. They are the key factor of any trading platform.
When you study this trading world you will come to know about different currency pairs. On the behalf of these pairs, you will be able to trade successfully during the New York session.
These pairs are best because of their volatility and trend. There is a table of best currency pairs with their pips range that is listed below:
Table for best currency pairs and pip range
|Currency Pairs||Range For Pip|
Note: The above-mentioned pip values are not exact. These are estimated from the data of the past few years. It may be changed according to liquidity and many other market conditions.
So, don’t take them as the final or accurate value.
3 Best Currency Pairs During New York Session
To get started a successful journey with forex, it’s important to have complete knowledge about currency pairs. It will help you to select the best pair that is trending in the market.
Here we define the 5 best currency pairs with trading tips and make you able to understand the best choice for your trading.
It is the most trading pair in the forex market. Do you know why?
The main reason is that it displays the union of the two biggest economical countries in the world.
Both currencies depend upon each other. No matter the change comes in the value of the euro or dollar, it leaves an effect on each other and also on other currencies.
This pair helps you to know how many dollars you need to get euros.
The full form of JPY is the Japanese Yen and it is considered the formal currency of Japan. After World War 2, the value of JPY decreased a lot but it established itself during 1973.
Now, it is commonly used as a retaining currency for USD, EUR, and GBP. That’s why JPY value is changing daily.
For USD holders, it proves beneficial because they can get benefits by investing in this currency pair. It’s important to be in a position of purchasing this pair.
In the United Kingdom, GBP is used as an official currency. Among most traded currencies, it gets the 3 number. It depends upon USD and EURO two major currencies in the forex market.
When you make a pair with USD, it makes a high level of volatility by managing risk and offers a big profit.
The last few decades leave great influences on GBP and increase its price value.
AUD is one of the most traded currencies and has become the 6th best currency for trading in the forex market.
It depends upon CAD and has a close connection with market materials. This is the only reason that makes Australia the largest exporter of coal and iron.
The traders who have AUD must be aware of the price ratio of the commodities circulating in the market.
Important Tips To Trade With New York Session
Are you a forex trader?
Do you want to trade with the New York session?
If yes, then you need to become aware of the tips and tricks that are helpful to trade successfully with the New York session.
Some main tips are listed below for your information:
- New York session intergrades with Europian session. Because of it, a trader can achieve a high level of liquidity in the Morning.
- Keep in mind that around 80 to 90% of trading activities assume the dollar. That’s why when U.S financial data is delivered, it moves towards the market directly.
- As the New York session begins, many financial announcements are done during this period.
- If European markets close their trades, volatility and liquidity start to go down while the afternoon.
- Friday afternoon gets a very little trading activity because many traders like to spend their time in other activities like watching matches.
- When traders close their trading positions at the end of the week, they take a U-Turn in the second half of the session. So that they will be able to reveal weekend news limitedly.
Before trading, follow these tips to understand that trading session.
Frequently Asked Questions
What are 4 trading sessions?
Four major trading sessions are New York, Sydney, Tokyo, and London trading session. These are known as the largest trading centers that are 75% of forex trading volume.
What is the easiest currency pair to trade?
The easiest currency pair to trade is EUR/USD. It is also the most stable currency pair that you can choose for trading. It is the most traded currency that is helpful for both new traders as well as for experts.
What time does the New York forex market open?
The opening time of the New York forex market is 1:00 pm and it closes at 11:00 pm GMT. In the local time, it is 9:00 am and 7:00 pm.
Finally, here we sum up our journey towards the best pairs to trade during the New York session.
As a trader, you must know that each trading session contains its features. When we talk about the New York session, we come to know that the trading market gets started with it.
Later comes London sessions and at the end, the Asia session.
Hopefully, this post has covered all the best pairs that are helpful to trade during the New York session.
Don’t forget to share your experience with your friends who want to trade with the New York session.