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Best Times To Trade Currencies Forex is a 24 hour market and there will be good setups for profitable trades in the Asian, European and US sessions. It pays to look at historical price data on forex charts to see what time of the day you could be watching the market and what time you could be doing something else. The aim is to trade when the average trading range is worthwhile and stay out of the market when price is in a narrow sideways range.The market opens on Monday morning in Wellington New Zealand .8 am Wellington time is 8pm GMT,9pm BST,4pm EDT (Sunday evening New York time)Sydney Australia Open 10pm GMT,11pm BST,6pm EDT; Close 6am GMT,7am BST,2am EDTTokyo Japan Open 11pm GMT, 12pm BST,7pm EDT; Close 7am GMT, 8am BST,3am NYFrankfurt Germany Open 6am GMT,7am BST,2 am EDT; Close 2pm GMT,3pm BST,10am EDTLondon England Open 7am GMT,8am BST,3am EDT; Close 3pm GMT,4pm BST,11am EDTNew York USA Open 12pm GMT,1pm BST,8am EDT; Close 8pm GMT,9pm BST,4pm EDTThe market closes for the week at 4pm EDT on Friday. where BST is British Standard time ,EDT is Eastern Daylight Time USA.Check your local time at http://forex.timezoneconverter.com
The most active pairs during the London session are EURUSD with 39% of the trading volume, GBPUSD with 23%, USDJPY with 17%, USDCHF with 6% and USDCAD with 5%.
New York is the second largest forex market place. The busiest time is 8am to noon EST. News releases can result in a volatile market.
Sometimes volatility is low in the Tokyo session and sometimes good moves occur. The USDJPY is the most active pair with 78% of the volume followed by EURUSD with 15% and EURJPY with 5%. -----------------------------------------------------
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