I want to present you the biggest
financial Forex trading centers. In spite of the fact that FOREX traders
are all over the word, majority of FOREX brokers, banks and funds have
centers situated in just some locations.
WHY IS SO IMPORTANT TO KNOW WITCH MARKET IS OPEN?
The
biggest volumes determine oftenly strong trends for local currencies.
Best example is AUD/USD: it is very active on London sesion, but the
major moves it makes on Australian time.
Why
is that? During the open hours economic local news is published, price
is very sensitive to it because australian financial institutions trade
local currency.
This way we could know what are the moments for important trends to develope.
I. Great Britain
Daily volume: 1854 bd $
Market share: 32%
Biggest financial center. England banks trade twice the volume of the one traded by the US financial institutions.
Active currencies: EUR/USD, GBP/USD si USD/CHF. De
asemenea, perechi care se misca mult in aceasta perioada sunt AUD/USD,
NZD/USD, USD/JPY si USD/CAD.
II. United States of America
Daily volume: 904 bd $
Market share: 16%
On the first 3-4 US trading hours , London banks are still open and that is why we can see the biggest volume and trends.
Active currencies: The main traded currencies are the same as on London session, but USD/CAD and USD/JPY accelerate after New York opens.
III. Japan
Daily volume: 312 bd $
Market share: 9%
While japanese banks are open on forex market two important things are happening:
- EUR/USD and GBP/USD are moving slower because Europe and US are already closed
- asian currencies have a incresing movement, we include here USD/JPY, AUD/USD si NZD/USD.
IV. Singapore
Daily volume: 266 bd $
Market share: 6%
The
banks of Singapore are open on the asian session, that is why big
trends are developed by the same currencies as the Japanese market, you
can also try to trade an exotic pair (USD/SGD), but the spread is wide.
For the final
You can trade any currency pair you like and feel confortable with, but choose wisely the one that is chepest (low spread and commisions), most active (high volume, safe trend) and take action on your highest efficient time (do not trade when you are enthusiastic or nervous, tired or sleepy)
for suggestions, critics or whatever, I invite you to leave a comment belowYou can trade any currency pair you like and feel confortable with, but choose wisely the one that is chepest (low spread and commisions), most active (high volume, safe trend) and take action on your highest efficient time (do not trade when you are enthusiastic or nervous, tired or sleepy)