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.
London Trading Session
London opens at 8 am GMT or 3am EST. Closes at 4 pm GMT or 11am EST. The most active pairs during this session are EURUSD with 39% of the trading volume, GBPUSD with 23%, USDJPY with 17%, USDCHF with 6% and USDCAD with 5%.
European Session
Europe opens at 7am GMT or 2am EST, Closes at 3 pm GMT or 10 am EST. The European session is the most volatile session most of the time.
Europe opens at 7am GMT or 2am EST, Closes at 3 pm GMT or 10 am EST. The European session is the most volatile session most of the time.
New York Session
New York Opens at 1pm GST or 8 am EST. Closes at 8pm GMT or 3pm EST.
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. Trading activity usually winds down after the U.S. afternoon trading period.
New York Opens at 1pm GST or 8 am EST. Closes at 8pm GMT or 3pm EST.
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. Trading activity usually winds down after the U.S. afternoon trading period.
Asian Session
The Tokyo session opens at 1am GMT or 8pm EST and closes at 8am GMT or 3am EST. Sometimes volatility is low and sometimes good moves occur. The USD/JPY is the most active pair with 78% of the volume followed by EUR/USD with 15% and EUR/JPY with 5%.
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