All in all, Tuesday, Wednesday and Thursday are the best days for Forex trading due to higher volatility. During the middle of the week, the currency market sees the most trading action. As for the rest of the week, Mondays are static, and Fridays can be unpredictable
Check out the below table of pip ranges for each trading day.
As you can see from the chart above, it’s best to trade during the middle of the week, since this is when the most action happens.Fridays are usually busy until 12:00 pm EST and then the market pretty much drops dead until it closes at 5:00 pm EST.
This means we only work half-days on Fridays.
The weekend always starts early! Yippee!
So based on all these, we’ve learned when the busiest and best days of the week to trade forex are.
The busiest times are usually the best times to trade since high volatility tends to present more opportunities.
Best Times to Trade:
- When two sessions are overlapping of course! These are also the times where major news events come out to potentially spark some volatility and directional movements.
- Make sure you bookmark the Market Hours cheat sheet to take note of the Opening and Closing times.
- You can also use our Forex Market Time Zone Converter which automatically displays which trading session(s) is open in your current local time.
- The European session tends to be the busiest out of the three.
- The middle of the week typically shows the most movement, as the pip range widens for most of the major currency pairs.
Worst Times to Trade:
- Sundays – everyone is sleeping or enjoying their weekend!
- Fridays – liquidity dies down during the latter part of the U.S. session.
- Holidays – everybody is taking a break.
- Major news events – you don’t want to get whipsawed!
- When you just broke up with your significant other because you chose forex trading over him or her. Wait until the next London session instead.
You can always be a swing or position trader
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