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Forex market is the biggest financial market in the world, with a daily trading volume of over $5 trillion. Being a global market, it is open 24/5, which means it operates 24 hours a day, 5 days a week. However, not all trading sessions are created equal. In this article, we will explore when the forex market opens and closes, including the different trading sessions and the best times to trade.
The Forex Market Sessions
While the forex market is open 24/5, it is divided into four major trading sessions: Sydney, Tokyo, London, and New York. Each trading session is named after the city that hosts the financial center. These four trading sessions are as follows:
Sydney Trading Session
The Sydney trading session opens at 10 pm GMT (5 pm EST) on Sunday and closes at 7 am GMT (2 am EST) on Monday. During this time, the market is relatively quiet, with low volatility and liquidity.
Tokyo Trading Session
The Tokyo trading session opens at 12 am GMT (7 pm EST) and closes at 9 am GMT (4 am EST). This session is characterized by high liquidity and volatility, and it is the best time to trade JPY pairs.
London Trading Session
The London trading session opens at 8 am GMT (3 am EST) and closes at 5 pm GMT (12 pm EST). It is the busiest trading session, with high liquidity and volatility. It is also the best time to trade EUR, GBP, and CHF pairs.
New York Trading Session
The New York trading session opens at 1 pm GMT (8 am EST) and closes at 10 pm GMT (5 pm EST). It overlaps with the London trading session, which creates high liquidity and volatility. It is the best time to trade USD pairs.
When Is The Best Time To Trade?
The best time to trade forex depends on your trading strategy and the currency pairs you are interested in. For example, if you are trading USD pairs, the best time to trade is during the New York and London trading sessions. However, if you are trading JPY pairs, the Tokyo trading session is the best time to trade.
FAQ
What Time Does The Forex Market Open?
The forex market never closes, but it is divided into four major trading sessions: Sydney, Tokyo, London, and New York.
What Time Does The London Forex Market Open?
The London forex market opens at 8 am GMT (3 am EST) and closes at 5 pm GMT (12 pm EST).
What Time Does The New York Forex Market Open?
The New York forex market opens at 1 pm GMT (8 am EST) and closes at 10 pm GMT (5 pm EST).
What Time Does The Tokyo Forex Market Open?
The Tokyo forex market opens at 12 am GMT (7 pm EST) and closes at 9 am GMT (4 am EST).
What Time Does The Sydney Forex Market Open?
The Sydney forex market opens at 10 pm GMT (5 pm EST) on Sunday and closes at 7 am GMT (2 am EST) on Monday.
Conclusion
In conclusion, the forex market is open 24/5, but it is divided into four major trading sessions: Sydney, Tokyo, London, and New York. Each trading session is named after the city that hosts the financial center, and it has its characteristics regarding liquidity and volatility. The best time to trade forex depends on your trading strategy and the currency pairs you are interested in. Understanding the different trading sessions and their features can help you trade more efficiently.Thank you for reading this article. If you want to learn more about forex trading, check out our other articles.