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I can see the blooming motivation of a beginner trader transpire through this question. You’ve just discovered forex trading and you’re wondering “gee, could I do this, like, all the time!?” Well the answer is almost. The forex market is a 24/5 market. It simply means that the forex market is opened for 24 hours every working days of the week. Depending on your time zone, it opens on Sunday night (at 10PM GMT) and closes on Friday night (at 10PM GMT). As you can see, the forex market is actually closed during weekends. I remember back when I first started trading forex I was so disappointed that it would be closed on weekends. I wanted to trade more! After a while though I realized that I actually needed to sleep once in a while and having free weekends became a pretty cool thing. Obviously it was at this point that I decided to do some intensive testing for different strategies and I couldn’t do that during the week (trading time!) so I decided to test during weekends. Sleeping time was over. The market being open is not enough a reason to be trading. There are several reasons for this. 1) You need to rest Weird to start from there, but I think it’s an important point. As a beginner forex trader, you might start to get obsessed with trading and will want to spend all your waking hours looking at candles going up and down. You need to sleep. The market will still be there tomorrow. Have a rest, get away from your computer and think things over. I’ve had my most important forex trading breakthroughs away from the computer. You could be spreading bread on a piece of toast and suddenly realise “heyyy, here’s something I should be testing!” 2) The market conditions are not always great As you’ve learned by going through our forex training (if you haven’t, shame on you), the forex market is divided in several sessions. Some sessions are more active than others. Thankfully for us in the UK, the UK session is the most active session of all.

USD/CAD erases intraday gains The USD/CAD rose to a high of 1.0485 on broad USD strength but failed to break above that level and erased intraday gains during the European session. With not much Canadian or US data on the docket, the USD/CAD as most pairs in the FX market, has spent most of the day within recent ranges unable to pick momentum to set a clear direction. Having bottomed out at 1.0460, the USD/CAS is presently trading at the 1.0465 zone, virtually unchanged on the day ahead of the American opening. USD/CAD supports & resistances If USD/CAD breaks below 1.0460 it could fall towards 1.0440 (Nov 14 low) and 1.0400 (psychological level). On the other hand, resistances are seen at 1.0485 (daily high), 1.0500 (psychological level) and 1.0525 (Nov 15 high).