Forex Trading Sessions

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It’s time to learn about the different forex trading sessions

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the forex market is open 24 hours a day, but that doesn’t mean it’s always active the entire day. we unpack Forex trading sessions and explain everything you need to know from strategy to execution in the four timelines: Sydney, Tokyo, London, and New York.

While the Forex marketplace is open 24/7, five and a half days a week, there are periods when there is consistent volatility and periods where nothing much happens.
You can make money trading when the market moves up, and you can even make money when the market moves down.
BUT you will have a very difficult time trying to make money when the market doesn’t move at all.

 

Tokyo

Tokyo, Japan (open 7 p.m. to 4 a.m.) is the first Asian trading center to open, takes in the largest bulk of Asian trading, just ahead of Hong Kong and Singapore. The currency pairs that typically have a fair amount of action are USD/JPY , GBP/CHF , and GBP/JPY . The USD/JPY is an especially good pair to watch when the Tokyo market is the only one open, because of the heavy influence the bank of japan has over the market.

New York

New York (open 8 a.m. to 5 p.m.) is the second-largest forex platform in the world, watched heavily by foreign investors because the U.S. dollar is involved in 90% of all trades. Movements in the New York Stock Exchange can have an immediate and powerful effect on the dollar. When companies merge, and acquisitions are finalized, the dollar can gain or lose value instantly.

 

Sydney

Sydney, Australia (open 5 p.m. to 2 a.m.) is where the trading day officially begins. While it is the smallest of the mega-markets, it sees a lot of initial action when the markets reopen on Sunday afternoon because individual traders and financial institution are trying to regroup after the long pause since Friday afternoon.

London


London, Great Britain (open 3 a.m. to noon): The United Kingdom dominates the currency markets worldwide, and London is its main component. London, accounts for roughly 43% of global trading, according to a report by BIS The city also has a big impact on currency fluctuations because Britain's central bank, the Bank of England, which sets interest rates and controls the monetary policy of the GBP, has its headquarters in London.4 Forex trends often originate in London as well, which is a great thing for technical traders to keep in mind. Technical trading involves analysis to identify opportunities using statistical trends, momentum, and price movement.

Spring/Summer in the Northern Hemisphere

To confuse things ever so slightly, due to the observation of daylight saving hours, the Forex session times vary with the seasons. Out of the four major Forex trading sessions which we identified above, only Japan keeps things straightforward all year round and does not change their clocks.

Below is a table with the opening and closing times of each Forex session in both the local timezone and BST (British Summer Time).

Session Local Time EST
BST (GMT + 1)
Sydney
07:00 - 16:00
17:00 - 02:00
22:00 - 07:00
Tokyo
09:00 - 18:00
18:00 - 05:00
01:00 - 10:00
London
08:00 - 16:00
03:00 - 23:00
08:00 - 16:00
New York
08:00 - 17:00
08:00 -17:00
13:00 - 22:00



The table below shows the major Forex market hours in local time and GMT.

Session
Local Time
EST
GMT
Sydney
07:00 - 16:00
15:00 - 00:00
20:00 - 05:00
Tokyo
09:00 - 18:00
19:00 - 04:00
00:00 - 09:00
London
08:00 - 16:00
03:00 - 11:00
08:00 - 16:00
New York
08:00 - 17:00
08:00 - 17:00
13:00 - 22:00

The Best Hours for Forex Trading 


Not all hours of the day are equally good for trading. The best time to trade is when the market is most active. When more than one of the four markets are open simultaneously, there will be a heightened trading atmosphere, which means there will be more significant fluctuation in currency pairs.
When only one market is open, currency pairs tend to get locked in a tight pip spread of roughly 30 pips of movement. Two markets opening at once can easily see movement north of 70 pips, particularly when big news is released.

Overlaps in Forex Trading Times


The best time to trade is during overlaps in trading times between open markets.
Here is a closer look at the three overlaps that happen each day:

1. U.S./London (8 a.m. to noon): The heaviest overlap within the markets occurs in the U.S./London markets. More than 75% of all trades happen when these markets overlap because the U.S. dollar and the euro (EUR) are the two most popular currencies to trade. This is the most optimal time to trade since volatility is high .


2. Sydney/Tokyo (2 a.m. to 4 a.m.): This time period is not as volatile as the U.S./London overlap, but it still offers a chance to trade in a period of higher pip fluctuation. EUR/JPY is the ideal currency pair to aim for, as these are the two main currencies influenced.


3. London/Tokyo (3 a.m. to 4 a.m.): This overlap sees the least amount of action of the three because of the time , and the one-hour overlap gives little opportunity to watch large pip changes occur.

 


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