Studies have found that the price level of the European forex session opening may be considered as a pivot level that remains valid till the close of the U.S. forex
means that the currency trend, which is being formed at this time, will
last at least until the end of the day. Thus, if one can correctly
predict the trend of a currency at the beginning of the day, one can
safely hold the position until the end of the day, without the need for
continual market monitoring. Also, the need to trade intraday, exposing
oneself to greater risk (high intraday volatility, the relative
weakness of the trade signals) falls down.