Forex market is a decentralized market, which means that there is no central exchange for trading currencies. Instead, the forex market operates 24 hours a day, 5 days a week, across different time zones. This means that the market is always open somewhere in the world, and traders can trade currencies at any time of the day or night, depending on their time zone.
However, there are certain times of the day when the forex market is more active, and this is when traders can expect more volatility and liquidity in the market. The forex market is divided into three main trading sessions: the Asian session, the European session, and the US session.
The Asian session starts at 10:00 PM GMT on Sunday and ends at 9:00 AM GMT on Monday. This session includes the markets in Japan, Australia, and New Zealand. The European session starts at 7:00 AM GMT and ends at 4:00 PM GMT. This session includes the markets in London, Frankfurt, and Zurich. The US session starts at 12:00 PM GMT and ends at 9:00 PM GMT. This session includes the markets in New York, Chicago, and Toronto.
The forex market is closed on weekends, which means that there is no trading activity on Saturdays and Sundays. However, there are still some events that can affect the market during the weekend, such as economic data releases or political announcements. These events can cause volatility in the market when it opens on Monday, and traders need to be aware of them when planning their trades.
It is important to note that the forex market is not closed during holidays, but trading activity may be lower than usual. Different countries have different holidays, and traders need to be aware of the holidays in the countries whose currencies they are trading. For example, if the US market is closed for a holiday, trading activity may be lower in the USD currency pairs.
In summary, the forex market is open 24 hours a day, 5 days a week, across different time zones. The market is divided into three main trading sessions: the Asian session, the European session, and the US session. The market is closed on weekends, but traders need to be aware of events that can affect the market during the weekend. The market is not closed during holidays, but trading activity may be lower than usual. Traders need to be aware of the holidays in the countries whose currencies they are trading to avoid unexpected market movements.
