When is the Forex Market Open?
Though the forex market is open 24 hours a day, there are specific times when the market is faster moving, and it’s easier to make money. There are three main time zones for trading – New York, London and Tokyo. Two sessions are usually always overlapping. In terms of Eastern Standard Time, New York is open from 9am to 5 pm, London is open from 3 am to 12 pm, and Tokyo is open from 7pm to 4 am. So, naturally, the busiest times in the market are from 3 to 4am, and then from 8am to 12 pm, because two markets are overlapping. And, since London overlaps with both Tokyo and New York at some point, it usually has the busiest session.
Though the forex market is open 24 hours a day, there are specific times when the market is faster moving, and it’s easier to make money. There are three main time zones for trading – New York, London and Tokyo. Two sessions are usually always overlapping. In terms of Eastern Standard Time, New York is open from 9am to 5 pm, London is open from 3 am to 12 pm, and Tokyo is open from 7pm to 4 am. So, naturally, the busiest times in the market are from 3 to 4am, and then from 8am to 12 pm, because two markets are overlapping. And, since London overlaps with both Tokyo and New York at some point, it usually has the busiest session.
What is the Best Time to Trade?
The middle of the week is also usually the busiest time in terms of trading. Tuesday and Wednesday shows much more movement and activity than the beginning or end of the week. Friday is generally the slowest day, when things calm down as soon as the London session closes. Sundays and Holidays are generally dead as well, and it’s unadvised to do lots of trading then.
Most Active Currency Pairs
London Session (3am to 12pm ET)
GBP/CHF - average range 145 pips
GBP/JPY - average range 140 pips
USD/CHF - average range 115 pips
GBP/USD - average range 110 pips
USD/CAD - average range 90 pips
EUR/USD - average range 80 pips
USD/JPY - average range 75 pips
New York Session (9am to 5pm ET)
GBP/CHF - average range 130 pips
GBP/JPY - average range120 pips
USD/CHF- average range 110 pips
GBP/USD - average range 90 pips
USD/CAD - average range 80 pips
EUR/USD - average range 75 pips
Tokyo Session ( 7pm to 4am ET)
GBP/JPY - average range 110 pips
GBP/CHF - average range 90 pips
USD/JPY - average range 75 pips
USD/CHF - average range 65 pips
GBP/USD - average range 60 pips
AUD/JPY - average range 55 pips
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