Trading time for day traders

Since forex market operates on a 24 hour basis throughout except on the weekends it is crucial to understand the different currencies behavior. Day traders need to know the “personality” of the currency pairs they are trading. For instance the GBP/USD pair is the most explosive in the early to mid hours of the European session. Day traders often take lead of the rapid price movements of the pair rather than trading any other pair with slow or no activity. The USD/CAD pair is quieter during this time and gains momentum just before the start of the US session. All release of the Non Farm Payroll sees that most currency pairs have a little price range up to discharge time. Most traders do not consider trading during in these prior to announcement hours with plans based on breakouts. Strategies based on range support and resistance will be smarter.