Forex trading is an exciting and lucrative market that is open 24 hours a day, five days a week. However, there are specific hours during which forex pairs are more active, making it easier for traders to make profitable trades. One of these hours is Sunday at 6 pm, when the market opens in Asia.
The forex market is a decentralized market, meaning that it is not controlled by any central authority. Instead, it is made up of a network of banks, financial institutions, and individual traders who buy and sell currencies. This means that the forex market is open 24 hours a day, five days a week, from Sunday at 5 pm EST to Friday at 5 pm EST.
However, not all forex pairs are active throughout the day. Some pairs are more active during specific hours, depending on the opening and closing times of the markets in which they are traded. For example, the EUR/USD pair is the most active during the European and US trading sessions, while the USD/JPY pair is most active during the Asian trading session.
When it comes to Sunday at 6 pm, there are specific forex pairs that are more active than others. This is because the forex market opens in Asia at this time, and many traders in the region are getting ready to start their trading week. As a result, the forex pairs that are most active during this time are those that involve the Asian currencies, such as the Japanese yen (JPY), Australian dollar (AUD), and New Zealand dollar (NZD).
One of the most actively traded forex pairs during Sunday at 6 pm is the USD/JPY pair. This is because Japan is one of the biggest players in the forex market, and the yen is one of the most traded currencies in the world. As such, traders in Asia and around the world are keen to start trading the USD/JPY pair as soon as the market opens on Sunday evening.
Another forex pair that is active during Sunday at 6 pm is the AUD/USD pair. This is because Australia is also a significant player in the forex market, and the Australian dollar is one of the major currencies traded. As such, traders who are looking to trade the AUD/USD pair are likely to be active during the Asian trading session, which starts on Sunday at 6 pm.
The NZD/USD pair is also active during Sunday at 6 pm, as New Zealand is another major player in the forex market, and the New Zealand dollar is a popular currency for traders. As such, traders who are looking to trade the NZD/USD pair are likely to be active during the Asian trading session.
In conclusion, there are specific forex pairs that are more active during Sunday at 6 pm, when the forex market opens in Asia. These pairs include the USD/JPY, AUD/USD, and NZD/USD pairs, which involve the major currencies traded in Asia. As such, traders who are looking to make profitable trades during this time should focus on these pairs and keep an eye on market trends to make informed decisions.
