Forex trading is a global market that operates 24 hours a day, five days a week. It’s important for traders to understand what time a new day begins in forex as it can affect their trading strategies and decisions.
In forex, a new day is referred to as a trading day, which starts at 5:00 PM EST (Eastern Standard Time) on Sunday and ends at 5:00 PM EST on Friday. This means that the forex market is open for trading for 24 hours a day, from Sunday evening until Friday evening.
The forex market operates in different time zones, and it’s important for traders to understand the different market hours across the world. The forex market is divided into four major trading sessions – the Sydney session, the Tokyo session, the London session, and the New York session.
The Sydney session is the first trading session of the day, which starts at 5:00 PM EST on Sunday and lasts until 2:00 AM EST on Monday. This session is relatively quiet, and the market tends to move slowly. However, it’s important for traders to keep an eye on this session as it can set the tone for the rest of the week.
The Tokyo session is the second trading session of the day, which starts at 7:00 PM EST and lasts until 4:00 AM EST. This session is known for its volatility, especially when the Japanese yen is involved in currency pairs. Traders should be prepared for sudden price movements during this session.
The London session is the third trading session of the day, which starts at 3:00 AM EST and lasts until 12:00 PM EST. This session is considered the most active trading session, and it’s when most of the forex market’s major players are active. Traders should pay attention to economic news releases during this session as they can cause significant price movements.
The New York session is the last trading session of the day, which starts at 8:00 AM EST and lasts until 5:00 PM EST. This session is also highly active, and it’s when the US dollar is involved in most currency pairs. Traders should be prepared for increased volatility during this session, especially around economic news releases.
It’s important for traders to understand the different trading sessions and their impact on the market. Traders should also be aware of any significant news releases or events that can affect the market, as they can cause sudden price movements and affect trading strategies.
In conclusion, a new day in forex starts at 5:00 PM EST on Sunday and ends at 5:00 PM EST on Friday. Traders should be aware of the different trading sessions and their impact on the market, as well as any significant news releases or events that can affect the market. By understanding the different market hours and factors that affect the market, traders can make informed trading decisions and maximize their profits.
