What Are The Best Times to trade for individual currency pairs

What Are The Best Times to trade for individual currency pairsCurrency Pairs?

The foreign exchange market operates 24 hours a day and as a result it is
impossible for a trader to track every single market movement and make an
immediate response at all limes. Timing is everything in currency trading. In order to devise an effective and time-efficient investment strategy, it is important to note the amount of market activity around the clock in order to maximize the number of trading opportunities during a trader's own market hours. Besides liquidity, acurrency pair's trading range is also heavily dependent, on geographical location and macroeconomic factors. Knowing what time of day a currency pair has the widest or narrowest trading range will undoubtedly help traders improve their investment utility due to better capital allocation.
U.S. SESSION (NEW YORK): 8 a.m. – 5 p.m. EST
New York is the second largest Forex market place, encompassing 19 percent of
total Forex market volume turnover according to the 2004 Triennial Central Bank
Survey of Foreign Exchange and Derivatives Market Activity in April 2004
published by the Bank for International Settlements (BIS). It is also the financial
center that guards the back door of the world's Forex market as trading activity usually winds down to a minimum from its afternoon session until the opening of the Tokyo market the next day. The majority of the transactions during the U.S. session are executed between 8 a.m. and noon, a period with high liquidity because European traders are still in the market.
For the more risk-tolerant traders, GBP/USD, USD/CHF, GBP/JPY, and
GBP/CHF are good choices for day forex traders since the daily ranges average about 120 pips.
EUROPEAN SESSION (LONDON): 2 a.m. – 12 p.m. EST
London is the largest and most important dealing center in the world, with a
market share at more than 30 percent according to the BIS survey. Most of the
dealing desks of large banks are located in London; the majority of major Forex
transactions are completed during London hours due to the market's high liquidity
and efficiency. The vast number of market participants and their high transaction
value make London the most volatile Forex market of all.