Plus, the spread for the pair is generally one of the closest of any of the majors, allowing profits to be achieved faster. You might choose a strategy built around market open prices — often called a European Open Price strategy. Or you might choose a breakout price strategy for the pair. For beginners, there are also some key points to consider:. There are just four hours when the London and U. You can still trade during non-overlap hours, but in general, the biggest movements happen when the markets are open concurrently.
Announcements and policy decisions by Federal Reserve Bank in the U. This could include changes to interest rates and other policy decisions, or it could include economic reports, including jobs numbers, Consumer Price Indices, bond auctions and PMIs.
All of these factors should be a part of your fundamental analysis, because the market movements following these announcements are much more pronounced, increasing the chances for greater gains.
Whenever major economic policies are announced — for example, an increase rate increase appears imminent in the U. For traders, this can be a profitable time to trade, as the value of the pair may make bigger swings. And its stability along with the massive trading volume is what draws the interest of many day traders, especially beginners.
Never miss the opportunity to learn powerful new insights. We will keep you posted with cutting edge articles, tips, tools and analysis to power you forward on your trading journey. Just enter your name and email below. Ichimoku indicator analysis of gold for December 5, For beginners, there are also some key points to consider: A course like "Learn Forex" from Learn to Trade is a powerful tool for helping you understand the role of macroeconomics in currency trading.
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