When you are looking for the best time to buy and sell forex in USA, there are a number of factors which come into play. Some of these factors are purely economic, while others are more related to the economy in particular. Regardless of what factors you consider, the bottom line is that the best time to trade forex is during the weekdays.
On average, the currency pairs most commonly traded in the US market are the USD/EUR and USD/JPY. While these currencies are usually quite strong against other currencies, their strength tends to wane on Friday afternoon (a day when many American expatriates work), especially during the period between 8pm and midnight.
The best time to buy and sell forex in USA also depends upon the currency pairs, which are popular in that area. For example, whereas the currency pairs associated with the US dollar tend to have a relatively long lifetime, currencies such as GBP/USD tend to be more volatile, meaning that they can drop substantially in value over a short period of time. This makes them unsuitable as trading platforms in areas such as Asia or Europe.
It also means that they tend to be more difficult to buy and sell forex market on a consistent basis, something which may be an issue if you intend to use a trading platform to trade all the time. If you wish to do this, you should ensure that you stick to only a few particular pairs.
Best Time To Trade Forex In Usa?
However, the best time to trade forex in USA will always depend upon the current status of the economy. If the state of the economy is stable and there is a high degree of trust in the government, the best time to trade forex in USA will be on Friday afternoon.
Meanwhile, day traders can make use of the weekends to trade forex in USA as it allows them to trade with the currency pairs, which are not too volatile on Friday afternoon. Day traders generally look to buy currency pairs which are at their weakest points, and sell them when they are at their strongest points.
This way, they can make their profits from the currency pair which is least affected by the fluctuations in the global markets. If you are a day trader, you may find it worthwhile to set your trading hours to run on a Friday afternoon or Friday evening, so that you can make maximum profits from the weaker currency pairs.
Of course, it should not be forgotten that if the economy in your country is doing poorly, you should also avoid going into forex trade on those days. The reason for this is that it is possible to lose out a great deal of money from your forex trade.
Indeed, in times of financial instability, it is very important that you understand how the economic conditions affect the currencies that you trade, as this is one of the factors which will determine how profitable the trade that you are making is. In addition, it is important to check the news in order to get a real picture of what is happening in the markets. There are also certain online trading services that can provide you with daily updates about the global economic situation.