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Trading During the Late May 2014 Holiday

Next Monday, 26th May, is a public holiday in both the U.K. and the U.S.A. The U.K. and the U.S.A. are the major financial centers driving volume in the Forex market, so we can expect this day to have very low volatility and price movement.

For this reason, we do not recommend opening any new trades whatsoever after 5pm Friday London time, until 8am Tokyo time next Tuesday, 27th May. It is of course acceptable to close trades, as if a stop loss is exceeded during such a slow period, it would be very likely to also be exceeded during an active market.

One possible exception might be if the European election results produce a dramatic and unexpected result, which could affect the Euro. The results are due late on Sunday evening U.K. time. If the strongly anti-E.U. parties win more than 20% of the seats, and there are strong anti E.U. votes in the U.K. and other major member states, this might affect the Euro negatively for a while. As always, extreme caution should be exercised before entering any trades on such a holiday.

Please be aware that most retail Forex brokers will allow trading during normal market hours next Monday, 26th May. Those based in the U.K. or the U.S.A., however, may have somewhat curtailed customer support. If you can possibly wait or avoid requiring active support from your broker over this period, you should eventually receive a more prompt and convenient service on the following day.

Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

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