European Session Overview
08:00 am - 05:00 pm
(from the opening of the Frankfurt session to the Order Book close on the London Stock Exchange / Euronext*)
(*Market 24h Clock doesn't show a separate sector for the Euronext Market as the opening auction and the closing on the Euronext coincide with the LSE Trading Session.)
European session is more often referred to as the London session. London is the first largest Forex trading centre in the world, ca. 30% of all Forex transactions happen during London trading hours. Market share of more than 40%.
This is the most liquid trading session. Forex trends begin during the trading hours of the Europe and will usually continue untill the beginning of the U.S. session. Liquidity goes down closer to lunch time.U.S. - European Overlap
Traded Currency Pairs
Half of the 12 major currency pairs surpass the 80 pips line. Any pair can be traded.
Majors - EUR/USD, GBP/USD, USD/JPY, and USD/CHF.
Risk tolerant traders prefer GBP/JPY and GBP/CHF
Risk-averse traders prefer EUR/USD, USD/CAD, GBP/USD, and USD/CHF with an average of 100 pips range;
NZD/USD, AUD/USD, EUR/CHF, and AUD/JPY, with an average of 50 pips range.
Keep an eye on when and what economic data is released:Economic Calendar