Best Forex Pairs For London Session

London is considered the largest and most important forex trading center globally, accounting for approximately 34.1% of the total forex trading volume. The forex market is open for 24 hours a day, five days a week, with the London session being the most active and volatile. As a result, traders must be strategic in selecting the best forex pairs to trade during this session. In this article, we will discuss the best forex pairs for the London session.

1. EUR/USD

EUR/USD is the most popular currency pair globally, with a trading volume of over $1.8 trillion per day. The pair is highly liquid, with low spreads, making it an attractive option for traders. The London session offers the best time to trade this pair due to its high volatility and liquidity. Traders can take advantage of price movements during this session.

2. GBP/USD

The GBP/USD is another popular forex pair traded during the London session. The pair is known for its high volatility, making it an attractive option for traders looking to make quick profits. The pair is also heavily influenced by economic events in the UK and the US, making it crucial to keep an eye on news releases during the London session.

3. USD/JPY

USD/JPY is a popular forex pair traded during the London session. The pair is known for its high liquidity, making it easy for traders to enter or exit positions quickly. The pair is also heavily influenced by economic events in the US and Japan, making it crucial to keep an eye on news releases during the London session.

4. EUR/GBP

The EUR/GBP is a popular forex pair traded during the London session. The pair is known for its high liquidity and low spreads, making it an attractive option for traders. The pair is heavily influenced by economic events in the Eurozone and the UK, making it crucial to keep an eye on news releases during the London session.

5. USD/CHF

The USD/CHF is a popular forex pair traded during the London session. The pair is known for its high liquidity and low spreads, making it an attractive option for traders. The pair is heavily influenced by economic events in the US and Switzerland, making it crucial to keep an eye on news releases during the London session.

6. AUD/USD

The AUD/USD is a popular forex pair traded during the London session. The pair is known for its high volatility, making it an attractive option for traders looking to make quick profits. The pair is heavily influenced by economic events in Australia and the US, making it crucial to keep an eye on news releases during the London session.

7. NZD/USD

The NZD/USD is a popular forex pair traded during the London session. The pair is known for its high volatility, making it an attractive option for traders looking to make quick profits. The pair is heavily influenced by economic events in New Zealand and the US, making it crucial to keep an eye on news releases during the London session.

8. USD/CAD

The USD/CAD is a popular forex pair traded during the London session. The pair is known for its high liquidity and low spreads, making it an attractive option for traders. The pair is heavily influenced by economic events in the US and Canada, making it crucial to keep an eye on news releases during the London session.

FAQs

1. What is the London session in forex trading?

The London session is a forex trading session that starts at 8:00 AM GMT and ends at 4:00 PM GMT. This session is considered the most active and volatile due to the high trading volume during this time.

2. Why is the London session important in forex trading?

The London session is important in forex trading because it accounts for approximately 34.1% of the total forex trading volume. The session is also known for its high volatility and liquidity, making it an attractive option for traders looking to make quick profits.

3. Which forex pairs are best for the London session?

The best forex pairs for the London session include EUR/USD, GBP/USD, USD/JPY, EUR/GBP, USD/CHF, AUD/USD, NZD/USD, and USD/CAD.

4. What is the most popular forex pair for the London session?

The most popular forex pair for the London session is EUR/USD, with a trading volume of over $1.8 trillion per day.

5. How do economic events affect forex trading during the London session?

Economic events can significantly impact forex trading during the London session. Traders must keep an eye on news releases such as GDP, inflation, and employment data, as they can create market volatility and impact price movements.