Best currency pairs to trade during new york session

The New York session, which typically runs from 8:00 AM to 5:00 PM EST, is a busy and volatile period for currency markets. Here are some of the best currency pairs to trade during this session:

  1. EUR/USD: The Euro is a major currency and is heavily influenced by the European Central Bank (ECB) and the US Federal Reserve (Fed). The New York session sees a lot of trading activity in this pair, especially during the ECB's and Fed's announcements.
  2. GBP/USD: The British Pound is another major currency that is heavily influenced by the Bank of England (BoE) and the Fed. The New York session sees a lot of trading activity in this pair, especially during the BoE's and Fed's announcements.
  3. USD/JPY: The US Dollar is a major reserve currency, and the Japanese Yen is a popular currency to trade against it. The New York session sees a lot of trading activity in this pair, especially during the Fed's announcements.
  4. USD/CHF: The US Dollar is also a major currency in the Swiss Franc market. The New York session sees a lot of trading activity in this pair, especially during the Fed's announcements.
  5. AUD/USD: The Australian Dollar is a popular currency to trade against the US Dollar, and the New York session sees a lot of trading activity in this pair, especially during the Fed's announcements.
  6. USD/CAD: The US Dollar is also a major currency in the Canadian Dollar market. The New York session sees a lot of trading activity in this pair, especially during the Fed's announcements.

Why these pairs?

  1. High liquidity: These pairs have high liquidity, which means that there are many traders and institutions trading them, making it easier to enter and exit trades.
  2. Volatility: These pairs are known for their volatility, which means that prices can move quickly and significantly, making it easier to profit from trading.
  3. Market-moving events: The New York session is a time when many market-moving events occur, such as Fed announcements, economic data releases, and central bank meetings. These events can cause significant price movements in these pairs.
  4. Tight spreads: The New York session sees tight spreads in these pairs, which means that the difference between the bid and ask prices is smaller, making it easier to trade.

Remember, trading during the New York session requires a good understanding of the markets, technical analysis, and risk management. It's essential to have a solid trading plan and to always trade with caution.