The euro and pound sterling pairs are the best currencies to trade during the London session. The Asian session starts with the Sydney market https://www.bigshotrading.info/ opening at 2200hrs GMT. Although it is referred to as Sydney open, it is actually the time when the New Zealand financial markets open.
Many currency pairs make their biggest price moves during the London session. The high liquidity also means that most currency pairs are traded with relatively thin spreads.
The London session opens at 0800hrs GMT, just as the Tokyo session closes. This is the biggest forex trading session, accounting for over 32% of all activity. London is a major global financial hub and is used as the reference for all major European financial centres. The London session is characterized by massive liquidity and high volatility.
What are the 4 sessions in forex?
The forex market can be broken up into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session.
For now, just know that the market never closes due to the needs of international trade, as well as the needs of central banks and global industries to conduct business. So although the ability for retail traders to participate is halted over the weekends, Forex Trading Sessions the Forex market as a currency exchange is alive and well. This brings me to a very common misconception in the Forex world – the idea that the market closes on weekends. The only thing that closes is the ability for retail traders to participate.
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However, the best time for you to trade forex will depend on which currency pair you’re looking at. As a rule, the most liquidity for each FX pair will occur when the sessions for the pair overlap – if both locations are open at the same time. For example, GBP/USD will experience a higher trading volume when both London and New York sessions are open. The forex market is available for trading 24 hours a day, five and one-half days per week. The Forex Market Time Converter displays “Open” or “Closed” in the Status column to indicate the current state of each global Market Center. However, just because you can trade the market any time of the day or night doesn’t necessarily mean that you should.