The forex market, also known as the foreign exchange market, is a global decentralized market where currencies are traded 24 hours a day, five days a week. The forex market is the largest financial market in the world, with an average daily trading volume of over $5 trillion.
While the forex market is open 24 hours a day, it is important to note that there are certain times when the market is more active and volatile than others. This is due to the fact that there are different time zones around the world, which means that when one market closes, another one opens.
The forex market is open 24 hours a day from Sunday at 5:00 PM EST until Friday at 5:00 PM EST. However, there are certain times when the market is more active and volatile than others. The most active trading sessions are the London session, the New York session, and the Asian session.
The London session is the most active trading session, and it opens at 3:00 AM EST and closes at 12:00 PM EST. This session is often referred to as the European session, as it includes major financial centers such as London, Frankfurt, and Paris. During this session, the euro, the British pound, and the Swiss franc are the most actively traded currencies.
The New York session is the next most active trading session, and it opens at 8:00 AM EST and closes at 5:00 PM EST. This session is often referred to as the North American session, as it includes major financial centers such as New York, Toronto, and Chicago. During this session, the US dollar is the most actively traded currency.
The Asian session is the least active trading session, and it opens at 7:00 PM EST and closes at 4:00 AM EST. This session is often referred to as the Tokyo session, as it includes major financial centers such as Tokyo, Hong Kong, and Singapore. During this session, the Japanese yen is the most actively traded currency.
It is important to note that the forex market is closed on weekends. The market closes on Friday at 5:00 PM EST and reopens on Sunday at 5:00 PM EST. During this time, traders are unable to place new trades or close existing trades.
In addition to the weekend closure, there are also certain holidays when the forex market is closed. These holidays include Christmas Day, New Year’s Day, Good Friday, and Easter Monday. During these holidays, the forex market is closed, and traders are unable to place new trades or close existing trades.
In conclusion, the forex market is open 24 hours a day, five days a week. However, there are certain times when the market is more active and volatile than others. The London session, the New York session, and the Asian session are the most active trading sessions. The forex market is closed on weekends and certain holidays, and traders are unable to place new trades or close existing trades during these times.
