It has three main trading sessions, which are the followings:
- Asian session which overlap Japan and Australia as well
- London session which overlap the majority of Europe and Africa
- New York session which overlap the North and South American Continent. That’s why this is the best time to trade on the market.
When the market volume and the movements of the quotes are very low, then you should avoid to trading.
The Forex Market Hours (open and close times) based on the main markets:
- New York opens at 8:00 AM and close at 5:00 PM according EST time;
- Tokyo opens at 7:00 PM and close at 4:00 AM according EST time;
- Sydney opens at 5:00 PM and close at 2:00 AM according EST time;
- London opens at 3:00 AM and close at 12:00 AM according EST time
As you can see, there are trading sessions when 2 sessions overlap each other:
- New York – London trading session between 08:00 AM and 12:00 AM according EST time;
- Sydney – Tokyo trading session between 07:00 PM and 02:00 AM according EST time;
- London – Tokyo trading session between 3:00 AM and 04:00 AM according EST time
The volume and the movements of the market are the highest when the market time is overlap the last few hours of the London session and the early hours of the New York one because the most of market participiants are available around these times.