When Trading Forex, Lesson 4: New York Session

After the lunch hour, or at the time we (people of Indonesia) were gathered together with the family, the U.S. session began at 8: 00 a.m. (EST) or 8: 00 pm (GMT + 7). As Asian and European sessions, the U.S. trading session is one of the world's financial center and is always supervised by the market.

"Why?"

Because, come on Friends! We were talking about New York and you're still asking again. Broadway, Donald Trump, the Rockefeller Building ...

Well, below is a chart of the currency pair pip range major in the New York session.

Pair	New York
EUR/USD	77
GBP/USD	68
USD/JPY	34
AUD/USD	68
NZD/USD	62
USD/CAD	67
USD/CHF	56
EUR/JPY	72
GBP/JPY	77
AUD/JPY	71
EUR/GBP	36
EUR/CHF	-

Pip value on the table above based on a calculation using the data in 2012. And, remember if the value of the pip was never fixed. Pip value depends on the liquidity and market conditions. Unless the value of EUR/CHF, of course, that does not change from a range of 1.2000.

Here are the New York session trading characteristics:

1. Because having an overlap with the session of the European tradingg early in the session, AS there is still a high degree of liquidity.
2. Most of the economic reports was released almost simultaneously with the start of the session in New York. And we must remember that approximately 85% of trading involving u.s. dollars. So the market will always move whenever u.s. economic news was released.
3. As European markets closed, the liquidity and volatility tends to subside during the afternoon trading session in the United States.
4. There is only a slight movement that caught on Friday afternoon, because Asian Traders choose to spend time together in a karaoke and bar. While European traders would rather spend his time in the pub and nobar matches.
5. In addition, on Fridays there is a reversal is likely to occur in the second half of the U.S. session. The cause is US traders decided to close-position earlier in the weekend to relieve pressure caused by news that emerged ahead of the holiday.

Pair Which Should We Use?
We need to take note that there will be a lot going on at the time of the U.S. and European markets opened in unison. Imaginable, all banks and multinational companies are busy answering the phone. We can use this moment to trade with any currency. However, to be safe, it is better we use major and minor currencies and avoid other strange currencies.

On the other hand, because the US dollar is often used in most transactions, the trader can be sure all will put their attention on the release of the US data. Whether it is the release of the data is positive or negative, is certain the US data releases will be able to shake world markets.

Still confused by the trading sessions and had no idea must choose which one? It's easy, please see next lesson: Overlap between sessions to get special lesson that hopefully can ease confusion.