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  • ...but before you write off H&S patterns because more have fallen apart rather than catalyzed lately, consider the monthly chart of $AUDUSD as well. That 0.8000-0.7925 zone is no joke as its historical midpoint, trendine and other technical points confluence https://t.co/dB6edmmA1d
  • While there are other Dollar pairs getting more attention lately, I think $AUDUSD deserve a spot in the rotation. It's currently working out whether it is going to abide 2021's range as a consolidation reversal risk (H&S pattern)... https://t.co/M7dG0a8Isw
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.31% Oil - US Crude: -0.18% Silver: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/AS3CtSNbr4
  • Fed's Evans: - Tepid April jobs report was a 'head scratcher' - Welcomes wage growth as sign of a healthy jobs market - Fed has room to overshoot inflation target - 'It will be a while' before US has made enough progress to talk about tapering
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.77%, while traders in Wall Street are at opposite extremes with 78.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wI1kMvJkwU
  • The price of gold extends the series of higher highs and lows from the previous week even though the 10-Year US Treasury yield retraces the decline following the US Non-Farm Payrolls (NFP) report. Get your $XAUUSD market update from @DavidJSong here:https://t.co/kyW7ukihdY https://t.co/keRXgNxmyp
  • Fed's Evans: - Very optimistic US will get back to strong job numbers - Still expects unemployment to fall below 5% this year $USD $DXY $TNX
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.67% US 500: -0.15% France 40: -0.18% Germany 30: -0.20% FTSE 100: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/f9gTcPN7Ev
  • EUR/USD holding proven support level. Pullback may be over, but hurdles yet to cross. Get your $EURUSD market update from @PaulRobinsonFX here: https://t.co/o6LAHTn29c
Guest Commentary: Best Hours to Trade for Those Who Hate Surprises

Guest Commentary: Best Hours to Trade for Those Who Hate Surprises

By Yohay Elam, Forex Crunch,,

Different hours of the day are characterized with different market behavior. This depends on the volume and also on the economic indicators that are released in every country.

Here are some better time spans to trade, in hours which see fewer surprises:

Times are GMT, during the winter in the northern hemisphere. For summer times, just subtract one hour.

  • 3:15 to 5:00: Unless there is a rate decision in Australia, these hours are quiet. Traders in Tokyo are not as enthusiastic as at the beginning of the session, Australian data is already out and the occasional Chinese data news release is also behind. The only potential risk is a rate decision in Japan, but this usually comes at a later hour. Europe is fast asleep.
  • 10:15 to 13:00: Up to 10:00, traders in London are more alert, especially at the beginning of the session. In addition, most UK data is released at 9:30, and European data releases (which are more spread out), are usually released up to 10:00 (ZEW for example). By 10:15, reactions to the data have already been made, and trading remains active, yet without too many surprises. At 13:00, traders in New York are already ready and potential surprises can be seen at 13:30, when the US releases data.
  • 23:00 to 1:00: After the US session closes, some caution is warranted. Liquidity is low and this is a good time for rating agencies to surprise markets with credit downgrades. Too often, these publications were made after markets closed in the US, but usually not long afterwards. However, by 23:00, it is reasonable to expect that thing will calm down and remain quiet until data is released in Australia and Japan.

Some traders seek the quiet hours for range trading, while others are looking for action and trading the news. The most liquid and busy hours are usually 13:00 to 16:00, when major US releases are scheduled, and trading volume is at its peak - overlapping of the European and US sessions.

What are your preferred times for trading? Do you prefer surprises or quiet times?

Further reading: 5 Most Predictable Currency Pairs

By Yohay Elam, ForexCrunch

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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