Forex European Session
Forex – Trade in America or the U.S. meeting
If you have not received my previous articles on trade session in Asia or Europe (London) session, please read them first but not a matter in which order you take a look.
As mentioned before (if you've read my articles Asian and European), you know that there are essentially three negotiating sessions in a typical day foreign exchange and are the Asian session, meeting European and U.S. session (In chronological order).
Of these, the range and trading volume of the meeting of Asia tend to be softer.
Returning to the U.S. session, by the time it starts, it overlaps the UK (or European session) for a couple of hours. That is when there are lots and lots of liquidity (or big money changing hands if you would).
U.S. Sessions usually begin with press releases such as home sales U.S. trade balance (deficit in place), the CPI, PPI and so on and so forth. Of these, the most important release will occur first Friday of each month. This news release called the nonfarm payroll or FEN. The moment the number is released, the market usually moves at least 50 pips in the first 5 minutes.
It is a reality show.
The U.S. meeting then tends to get a little more relaxed towards Lunch is around 24:00 EST (or DST). It will tend pick up again after lunch only to fizzle out during the last 1-2 hours of negotiation or times of banking. At the time of the sitting U.S. ends, there will be another two hours before the Asian session starts again.
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FOREX VIDEO REVIEW: London Session May 21, 2009