Weekend. Where can I see weekend quotes?
[info_block align="right"] continues to work on weekends as well - currency exchange transactions initiated by market makers continue to take place at the interbank level.[/info_block]
Every trading week, currency pair quotes in our terminal "freeze" on Friday at 23:59:59 and start moving again on Monday at 00:00:01. Trading does not take place on Saturday and Sunday because of the lack of prices, so many traders think that the currency market does not work on weekends. You will be surprised, but they are wrong. Let's talk about why we need to know about quotes on weekends.
What happens to quotes on weekends?
continues to work on weekends - at the interbank level there continue to be currency exchange transactions initiated by market makers.
During Saturday and Sunday trading volumes accumulate and in the first second of Monday they come into effect. If there is a significant overweight in favor of buying or selling, Monday's opening price will be very different from Friday's closing price, forming a gap.
Why do we need weekend quotes?
Of course, if your trading strategy involves closing all trades at the end of the week, there is no need to follow quotes on weekends. However, there are a number of reasons why it is still worth doing:
Make money from Gap. On the basis of the analysis of this data we can get information about the preconditions for the gap and predict its direction.
Make a trading plan. If there is no or insignificant overweight in the bids, it is possible to conduct a technical analysis of the traded currency pair, determine the nearest support and resistance and make a trading plan for the next week.
To work out the deal. If a trader leaves for the weekend with an open trade, monitoring quotes will allow him to plan in advance his actions at the opening of trading. It can be partial or full fixation of profit, order correction, etc.
Where can I see the currency pair quotes at the weekend?
As you know, the most common MetaTrader 4 and 5 trading terminals do not provide information on quotes on weekends. However, you can use other simple and convenient sources of quotes. We are going to share the most common ones with you:
- OANDA - market maker with access to the world database. Quote values are updated every 5 seconds. For ease of use, the entire table is divided into categories: main pairs, pairs with euro, other pairs, metals.
- QUESTRADE - is a Canadian broker cooperating with Morningstar,Inc. Due to this, the maximum delay in quotes is no more than 15 minutes. The presented table has a convenient filter, which allows you to work with 8 instruments simultaneously.
- HE - The quotes from this company are highly reliable because they are collected from 100 different sources. The data on the page is updated automatically every 10 seconds. The user can use the general or the special table at his discretion. The first table allows you to view data only for popular assets, and the second allows you to check the data for any pair.
- TRADINGCHARTS - this platform has a convenient filter system that allows you to divide all assets into categories. Updates are automatic, but to speed up the process, the trader can update the data himself using a special button.
When is the best time to watch currency pair quotes on the weekend?
On weekends, as a rule, the arrival of orders and the accumulation of trading volumes are uneven. To see the most objective picture, weekend quotes are best viewed on Sunday, 4-6 hours before the start of trading.
Now you can easily find out online quotes This information will help you see the trading situation more clearly and make the right decisions, leading to profits.