Forex, short for foreign exchange, refers to the buying and selling of different currencies in the global marketplace. Forex trading is a 24-hour market, meaning that it operates around the clock, 5 days a week. As such, different forex pairs are open at different times of the day, depending on the time zone and the trading hours of the various financial centers around the world.
So, what forex pairs are open right now? The answer to this question depends on the time zone you are in and the current trading hours of the major financial centers. Let’s take a closer look at each region and the forex pairs that are open during their respective trading hours.
Asian session
The Asian trading session is the first to open, and it starts at 6:00 PM EST on Sunday and closes at 4:00 AM EST on Monday. During this time, the major financial centers that are active include Tokyo, Singapore, and Hong Kong. The most actively traded forex pairs during the Asian session are the USD/JPY, AUD/USD, and NZD/USD. This is because the Japanese yen, Australian dollar, and New Zealand dollar are the most commonly traded currencies in the Asian region.
European session
The European trading session is the most active and liquid session of the day. It starts at 3:00 AM EST and ends at 12:00 PM EST. The major financial centers that are active during this time include London, Frankfurt, and Paris. The most actively traded forex pairs during the European session are the EUR/USD, GBP/USD, and USD/CHF. This is because the euro, British pound, and Swiss franc are the most commonly traded currencies in the European region.
North American session
The North American trading session starts at 8:00 AM EST and ends at 5:00 PM EST. The major financial centers that are active during this time include New York and Toronto. The most actively traded forex pairs during the North American session are the USD/CAD, USD/JPY, and EUR/USD. This is because the US dollar, Canadian dollar, and Japanese yen are the most commonly traded currencies in the North American region.
In addition to the three main trading sessions, there are also overlaps between each session. For example, the European and North American sessions overlap from 8:00 AM EST to 12:00 PM EST. During this time, the most actively traded forex pairs are the EUR/USD, GBP/USD, and USD/JPY. The Asian and European sessions also overlap from 2:00 AM EST to 4:00 AM EST, during which the most actively traded forex pairs are the EUR/USD, USD/JPY, and AUD/USD.
It is important to note that forex trading is a global market, and trading activity can occur at any time of the day or night. While the three main trading sessions provide the most liquidity and volatility, traders can still find opportunities outside of these times. However, it is important to be aware of the trading hours and the forex pairs that are most active during each session to make informed trading decisions.
In conclusion, the forex pairs that are open right now depend on the time zone and the trading hours of the major financial centers around the world. The Asian, European, and North American sessions are the most active and provide the most liquidity and volatility. During these sessions, the most actively traded forex pairs are the USD/JPY, EUR/USD, and GBP/USD. Traders should be aware of the trading hours and the forex pairs that are most active during each session to make informed trading decisions.
