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What Forex Market Open Now

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The Forex market is the largest financial market in the world, with a daily trading volume varying between about two to three trillion dollars! To become a successful Forex trader, one must carefully study all the important aspects of the forex market. Among them are the various Forex trading sessions that exist around the world.

What Forex Market Open Now

What Forex Market Open Now

In this article we will look at the different hours in the Forex market, look at the different sessions, analyze the best – and worst – times to trade and much more!

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The Forex market is open 24 hours a day, five days a week and consists of a wide range of participants, including central banks, hedge funds, investment management firms, currency brokers and investors from around the world.

During each currency trading session, the city with the largest financial center in the respective region is awarded the title of the session. If you are trying to analyze the best time to trade Forex currency pairs, it is extremely important to understand the different trading sessions and which currencies or markets are most liquid during those hours.

The international currency market is not actually dominated by a single market exchange, but instead involves a global network of exchanges and brokers around the world. Forex market hours are based on when trading is open in each participating country.

The trading day actually begins every weekday in New Zealand, although the name of the first major session is the city of Sydney. The pattern then follows that as one major Forex market closes, another opens. Certain times of the day are more active than others and it is important to keep track of them.

Forex Market Trading Sessions

In the following sections, we will take a closer look at the three most important sessions and the best times to trade them. But first, let’s look at the opening and closing times for each of the individual sessions that make up the Forex trading day.

To confuse things a bit, due to daylight saving time, Forex session hours vary according to the seasons. Of the four main Forex trading sessions we identified above, only Japan keeps things clear throughout the year and does not change its clocks.

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

What Forex Market Open Now

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One of the best features of the Forex market, as mentioned earlier, is that it is open 24 hours a day, 5 days a week. This means that investors around the world can trade whenever they want throughout the business week. However, not all times are created equal. There are times during the week when the price action is consistently volatile, and there are times when it is completely off.

Although different currencies can be traded at any time, the trader cannot personally monitor his positions for such long periods of time. There will be times in the Forex market when opportunities are missed or when a spike in market volatility causes the spot to move towards a fixed position while the trader is not around. To reduce such risk, a trader must be aware of when the market is most volatile and therefore determine which times are best for his individual trading strategy and style.

The market is usually divided into three main sessions – during which activity is at its peak: the Asian, European and North American sessions, or more commonly known as the Tokyo, London and New York sessions.

Such names are used interchangeably among Forex traders simply because these three cities represent the main financial centers of each region. The markets are most active when these three financial centers are operating – as the majority of banks and companies conduct their daily transactions and there is a greater number of speculators online.

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After the weekend, the action returns to the Forex market – on Sunday night for us Europeans – in the form of the Asian trading session. Although unofficial, activity from this part of the world is largely generated by capital markets in Tokyo, hence the session’s name.

However, there are many other places with significant appeal that exist during this period – including Australia, China and Singapore.

Despite the large volume of transactions taking place, liquidity can sometimes be low during the session, especially compared to the London and New York sessions.

What Forex Market Open Now

Later in the trading day, just before the close of business hours in the Asian forex market, the European session takes over the role of keeping the forex market active. This time zone is very dense and includes many important financial markets. However, the name London has the honor of identifying the boundaries of the European session.

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Largely due to its favorable time zone – London is not only the center of Forex trading in Europe, but also in the world. The London session overlaps with the other two major Forex trading sessions (Tokyo and New York), meaning that much of the daily Forex trading takes place during this time period.

This increased Forex activity results in high liquidity throughout the session and potentially lower spreads. An additional effect of the increased activity is also that the London session usually presents the most volatile hours in the Forex market. Volatility tends to dip in the middle of the session before rising again after the New York open.

By the time the North American session comes online, Asian markets have already been closed for several hours, but the day is only half over for European forex traders. The session was most influenced by activity in the United States, with contributions from Canada, Mexico and several countries in South America.

The morning hours mark periods of high liquidity and volatility, both of which tend to subside in the afternoon after Europeans stop trading.

Forex Open And Closed Positions

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As you will no doubt notice from the opening and closing times of the various Forex sessions, there are times of the day when two sessions are open at the same time.

These overlaps represent the busiest hours of the day for Forex trading, simply because there are more active market participants. Traders can expect both higher volatility and liquidity during these hours in the Forex market – making them the best hours of the day to trade.

What Forex Market Open Now

Currency pairs show varying levels of activity during the trading day, depending on who is active in the market at any given time. Knowing the different Forex sessions gives us an idea of ​​what time of day Forex pairs are most active.

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For example, during the overlap of the London and New York sessions – which is the busiest time of day for trading – you can expect EURUSD and GBPUSD to be most active, with high volatility and liquidity. On the other hand, volatility and liquidity would be significantly lower in both these pairs during the Sydney session.

This is highlighted in the EURUSD chart below, where the section highlighted in yellow represents the overlap between the London and New York sessions and the section highlighted in blue shows the Sydney session. The standard deviation indicator at the bottom of the screen reflects the level of market volatility – which is noticeably higher during market overlap.

Pictured: Admiral’s MetaTrader 5 – EURUSD M1 chart. Date Range: April 29, 2021 – April 30, 2021 Collection Date: May 7, 2021 Past performance is not necessarily indicative of future performance.

Therefore, if you are a Forex trader who thrives on volatility, you can deduce from the different hours of the Forex market which times of the day are best for trading which currency pairs. Similarly, if your trading style dictates that you avoid periods of high volatility, you can analyze which times of the day you should probably stay away from the markets.

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Do you find it complicated to keep track of which sessions you are on? With all the different time zones, we don’t blame you! That’s why we included the “Session Map” indicator as part of our MetaTrader Supreme Edition plugin. This handy tool allows you to see a chart with current working hours of the Forex market in your trading terminal!

The best and worst times of the day for Forex trading are mostly relative, depending on your preferred trading strategy or style and the pairs

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