It is without a doubt that the North American session in Forex is one of the most important sessions for traders around the globe. The US Dollar remains as one of the biggest currency contenders in the financial market, especially the currency market. Many Forex players rely on the announcements made related to the United States economic data before progressing with currency trades later in the day.
Features of the North American Session
One of the features of the North American session in Forex that makes it such an important session, comparably to the European session and the Asia Pacific session, is that there is an overlapping period. The North American session in Forex operates between the hours of eight in the morning (EST) until five in the afternoon (EST). When the North American session in Forex is opening is when there is an overlap with the European session. The overlapping period from eight in the morning (EST) until noon (EST) is a hot zone for trading.
The most attractive period of time
Experienced traders can attest to the fact that this period when the market is most active is probably the most lucrative period to trade. The large volume of trades means that you as a trader have a higher chance of accruing a profit during this period. Many brokers strive to trade during the hot zone time in the North American session in Forex. If you want to know more tips for trading, visit ForexBonusLab website. Additionally, there may be an increase in currency market activity based on economic data released in the afternoon in the United States. In addition to the stretch of a certain number of hours, the most traded days are specifically Monday and Friday. Monday especially attracts a lot of attention because the markets have been closed for two days in the North American session in Forex. Much of the activity towards the end of the North American session paves way for currency activities in the Asia Pacific market soon to follow.
The prominent financial centers of the North American session are comprised primarily of the American cities of New York and Chicago. Most currency transactions occur in the hub of New York City, but there are other players in the North American session in Forex. Other countries such as Brazil, Canada and Mexico are also participants on a smaller scale when compared with the transactions of New York City.