Forex or foreign exchange market is the largest financial market in the world, with a daily turnover of around $5 trillion. It involves the buying and selling of currencies from around the world. Forex trading is available 24 hours a day, five days a week, except for weekends and holidays. Therefore, knowing when forex opens and closes is crucial for traders to plan their trading activities and make informed decisions.
Forex trading starts on Monday at 00:00 GMT and ends on Friday at 22:00 GMT. The forex market is open 24 hours a day, but it does not mean that it is always active. The market is active during certain hours, and it is important for traders to know these hours to make profitable trades.
The forex market is divided into three major trading sessions: the Asian session, the European session, and the North American session. The Asian session starts at 00:00 GMT and ends at 09:00 GMT. This session is the least volatile, and the trading activities are slow compared to the other sessions. The major currency pairs traded during the Asian session are USD/JPY, AUD/USD, and NZD/USD.
The European session starts at 07:00 GMT and ends at 16:00 GMT. This session is the most active and volatile, with most of the major currencies being traded. The major currency pairs traded during the European session are EUR/USD, GBP/USD, and USD/CHF.
The North American session starts at 13:00 GMT and ends at 22:00 GMT. This session overlaps with the European session, and it is the second most active and volatile session. The major currency pairs traded during the North American session are USD/CAD, USD/JPY, and GBP/USD.
Apart from these three major trading sessions, there are also smaller trading sessions, such as the Pacific session and the London session. The Pacific session starts at 21:00 GMT and ends at 06:00 GMT. This session is the most active for the AUD/USD and NZD/USD currency pairs. The London session starts at 08:00 GMT and ends at 17:00 GMT. This session overlaps with the European session and is the most active for the GBP/USD currency pair.
It is important to note that the forex market is closed on weekends and holidays. There are several holidays when the forex market is closed, such as Christmas, New Year’s Day, and Easter.
In conclusion, the forex market is open 24 hours a day, five days a week, except for weekends and holidays. The market is divided into three major trading sessions: the Asian session, the European session, and the North American session. It is important for traders to know when these sessions start and end to plan their trading activities and make informed decisions. Forex trading is a highly volatile market, and traders need to be aware of the risks involved. Therefore, it is crucial to have a good understanding of the market and the trading sessions to make profitable trades.
