...cont'd from yesterday...
In her book Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading)
, Kathy Lien mentions a study she did on what time of day the Forex markets have the biggest range of price movement. In terms of the Eastern Time Zone, from 7a.m. to 4 a.m. the biggest price range occurs in GBP/JPY, GBP/CHF, and USD/JPY. Then from 2 a.m. to 12 a.m. GBP/CHF, GBP/JPY, USD/CHF, and GBP/USD. Then from 8 a.m. to 5 p.m. GBP/CHF, GBP/JPY, USD/CHF, and GBP/USD. In the overlapping US/Europe session, which is also the most active one in Forex, the biggest movers are GBP/CHF, GBP/JPY, and USD/CHF. Finally, in the overlapping Europe/Asia session, there are no big movers but among the currency pairs studied in that period, biggest movers are GBP/JPY, GBP/USD, and USD/CHF.
Big movers = big potential profits in short period of time.
...cont'd tomorrow
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