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What time does new york session start forex?

The forex market is open 24 hours a day, five days a week. This means that traders can trade at any time of the day or night, depending on their preferred trading strategy. However, there are certain times of the day when the market is more active and volatile, which can provide more trading opportunities. One of the most important trading sessions is the New York session, which is also known as the US session. In this article, we will explain what time the New York session starts and why it is important for forex traders.

What is the New York Session?

The New York session is one of the three major trading sessions in the forex market. The other two are the Asian session and the European session. The New York session is also known as the US session because it overlaps with the trading hours of the US stock market. The New York session is the second most active trading session after the London session, which is the most active session. The New York session starts at 8:00 AM EST and ends at 5:00 PM EST.

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Why is the New York Session Important?

The New York session is important because it is the time when the US dollar is most active. The US dollar is the most traded currency in the world, and it is involved in almost 90% of all forex transactions. The New York session also overlaps with the European session, which is another major trading session. This overlap creates a period of high liquidity, which means that there are more buyers and sellers in the market. This can lead to more trading opportunities and tighter spreads.

During the New York session, there are several economic events and news releases that can affect the market. These include the release of economic data such as GDP, inflation, and employment figures, as well as speeches by central bankers and other influential figures. These events can cause volatility in the market, which can create trading opportunities for forex traders.

Trading Strategies for the New York Session

There are several trading strategies that traders can use during the New York session. One of the most popular strategies is trend following, which involves identifying the direction of the trend and trading in the same direction. Traders can use technical indicators such as moving averages, trend lines, and Fibonacci retracements to identify the trend.

Another popular strategy is breakout trading, which involves identifying key levels of support and resistance and trading when the price breaks through these levels. Traders can use technical indicators such as Bollinger Bands and the Relative Strength Index (RSI) to identify potential breakout levels.

News trading is another popular strategy during the New York session. This involves trading based on economic news releases and speeches by central bankers and other influential figures. Traders can use a calendar of economic events to identify potential trading opportunities and can use technical indicators to enter and exit trades.

Conclusion

The New York session is an important trading session in the forex market. It is the time when the US dollar is most active and when the market is most liquid. There are several trading strategies that traders can use during the New York session, including trend following, breakout trading, and news trading. By understanding the importance of the New York session and using effective trading strategies, traders can take advantage of the opportunities available in the forex market.

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