Forex trading is a 24-hour market that is open five days a week. Trading in the forex market takes place in different regions of the world, and each region has its own trading session. The forex market is divided into four major trading sessions: Sydney, Tokyo, London, and New York. Each session has its unique characteristics and trading hours, and traders need to know which forex session is it right now to make informed trading decisions.
Sydney Session:
The Sydney session is the first forex session of the day, and it starts at 10:00 PM GMT and ends at 7:00 AM GMT. This session is the least volatile among all the forex sessions, and it accounts for only 4% of the total daily forex trading volume. The Sydney session is also known as the “Pacific Rim” session, and it is dominated by traders from Australia, New Zealand, and some parts of Asia.
Tokyo Session:
The Tokyo session is the second forex session of the day, and it starts at 12:00 AM GMT and ends at 9:00 AM GMT. This session is also called the “Asian” session, and it accounts for about 21% of the total daily forex trading volume. The Tokyo session is dominated by traders from Japan, China, and other parts of Asia. The Tokyo session is known for its high volatility, and traders can expect to see significant price movements during this session.
London Session:
The London session is the third forex session of the day, and it starts at 8:00 AM GMT and ends at 5:00 PM GMT. This session is the most volatile of all the forex sessions, and it accounts for about 35% of the total daily forex trading volume. The London session is dominated by traders from the UK, Europe, and Africa. The London session is known for its significant price movements, and it is considered the most important forex session for trading the major currency pairs.
New York Session:
The New York session is the fourth and final forex session of the day, and it starts at 1:00 PM GMT and ends at 10:00 PM GMT. This session is also known as the “North American” session, and it accounts for about 28% of the total daily forex trading volume. The New York session is dominated by traders from the US, Canada, and South America. The New York session is known for its high volatility, and traders can expect to see significant price movements during this session.
Conclusion:
In conclusion, knowing which forex session is it right now is crucial for traders to make informed trading decisions. Each forex session has its unique characteristics and trading hours, and traders need to adjust their strategies accordingly. Traders should also consider the time zone differences when trading in different forex sessions. Trading in the forex market requires patience, discipline, and a thorough understanding of the market’s dynamics.
