The Forex market trading time is actually 24 hours a day from 5pm EST on Sunday until 4pm EST Friday.
The reason being that currencies are always in high demand.
The international scope of currency trading means that there are always Forex traders worldwide who are buying and selling a particular currency.
The three major Forex market trading sessions are as follows (all in EST)
1. New York opens 7:00 AM to 4:00 PM
2. Japanese/Australian opens 7:00 PM to 3:00 AM
3. London opens 3:00 AM to 11:00 AM
Breakdown of Market Times worldwide:
Australia Market trade times: 7pm-3am EST
Tokyo Market trade times: 8pm-4am EST
London Market trade times: 2am-12Noon EST
New York Market trade times: 8am-4pm EST
Normally the best times to trade is at the start of the trading session e.g. the first 3-5 hours of the above mentioned opening times, because the major currency pairs tend to move the most in a particular trend or direction. Especially when new is due to be released.
We have found that the best trading time is between 3 AM and 11 AM EST. The New York and London trading sessions overlap between 7 and 11 am EST. which results in higher olatility and more trading opportunities with bigger moves in these four hours of trading.
Currency pairs that normally move the most during these 3-5 hours are the USD/CHF, followed by the GBP/USD, the EUR/USD and then the USD/JPY.
To trade in this particular time band you can use the following to help you determine and convert the EST time to your own time zone:
- (We have found this the best- you can download this program to your desktop and set it to your local time.)
Before starting your trading day and entering your trade, always check and note the support/resistance, trend (bullish or bearish), trading range, target highs and lows, economic news release times that can impact your trades.
Great Daily FX Forecast Websites
refrained from guaranteeing their stops during fundamental news release times because the accompanied volatility can be extreme to such an extend, that the Forex price often move faster than their servers can keep up with.
If you choose to trade according to the news release (Fundamentals), be aware of its risk reward. The results can be extreme in a very short time span. The trade can easily go against you.