As a forex trader, one of the most important things to know is when the forex market will be open. The forex market is a decentralized market, which means that it is open 24 hours a day, 5 days a week. However, there are certain times when the market is more active and volatile, which makes it more attractive for traders. This article will explain when the forex market opens in PST (Pacific Standard Time) and what you need to know to take advantage of the market.
The forex market is open 24 hours a day, 5 days a week. This means that it is always open somewhere around the world, as different countries have different time zones. The forex market is open from Sunday at 5 pm EST (Eastern Standard Time) until Friday at 5 pm EST. This is because the forex market is divided into three major trading sessions: the Asian session, the European session, and the US session.
The Asian session starts at 5 pm EST on Sunday and runs until 2 am EST on Monday. This session is the least active of the three and is often referred to as the quiet session. The major currencies that are traded during the Asian session are the Japanese yen, the Australian dollar, and the New Zealand dollar.
The European session starts at 2 am EST and runs until 11 am EST. This session is the most active of the three and is often referred to as the London session. The major currencies that are traded during the European session are the euro, the British pound, and the Swiss franc.
The US session starts at 8 am EST and runs until 5 pm EST. This session is the second most active of the three and is often referred to as the New York session. The major currencies that are traded during the US session are the US dollar, the Canadian dollar, and the Mexican peso.
If you are trading in PST, you need to adjust the times accordingly. PST is 3 hours behind EST, which means that the forex market opens on Sunday at 2 pm PST and closes on Friday at 2 pm PST.
It is important to note that the forex market is closed on certain holidays, such as Christmas Day, New Year’s Day, and Easter Sunday. During these holidays, the market is closed, and there is no trading. It is also important to note that the forex market can be affected by news events, such as economic data releases and geopolitical events. These events can cause significant movements in the market, and it is important to be aware of them when trading.
In conclusion, the forex market is open 24 hours a day, 5 days a week. If you are trading in PST, the market opens on Sunday at 2 pm PST and closes on Friday at 2 pm PST. The forex market is divided into three major trading sessions: the Asian session, the European session, and the US session. Each session has its own characteristics and major currencies that are traded. It is important to be aware of the market hours and trading sessions when trading forex to take advantage of the market’s volatility and opportunities.
