The Forex market can be both predictable and unpredictable. Even after spending days building a foolproof strategy, a forex trader can make a move that will make him lose. There’s no magic formula or ritual to say for sure what’s going to happen next in the market. However, there are some trends in the Forex market that can be used to the advantage of the trader. They can vary from the various aspects of market analysis to the exact same time when the trade is going to take place. Let’s talk about both the best days and times for Forex trading.
The activity of the market fluctuates on the day and on the week. Forex operates 24 hours a day, five days a week. It ensures that the market is closed on Saturdays and Sundays. And there is a clear pattern even with the time zone report.
The simple answer to what would be the best Forex trading day of the week is mid-week. More precisely, the duration Wednesday-Thursday. The most logical explanation for this is that most forex traders are people, and they take time to re-enter the productive state of their mind after the weekend.
The Forex market can be quite slow by the same logic on Monday. And it’s mostly volatile on Friday, as investors make hasty decisions so impact the market by the amount of activity. Bear in mind, however, that we’re talking about a normal week here. Such phenomena will not extend for major holidays and political events. Although they can also be somewhat forecast and tracked, they may not correspond with a particular day of the week. As we have shown the best days of the Forex trading week are the middle days (Wednesday-Thursday).