Trading hours
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According to various online trend analyzing tools “forex trading hours”, “forex market hours” and “forex schedule today” are among the most often searched terms in Google related to trading. Since there are a few more nuances than just London open and New York open, I decided to post my take on this subject 🙂 .
Best time to trade Forex
The Electronic Communications Network (ECN) which connects market participants and facilitates the vast number of FX transactions is operating 24h a day starting from Monday 8:00 AM Sydney Time until Friday 5:00 PM New York time, except for a few bank holidays like New Year or Boxing Day. This constitutes forex trading week.
Typical Forex day schedule:
8:00 (AEST/AEDT) Sydney open
with some brokers, you will not be able to trade until 8:15 Sydney is usually slow unless something happened over the weekend and there can be an opening gap or even a wild ride. Eg. during covid. Therefore, if you keep open positions over the weekend it is wise to check the news on Sunday 🙂 .
8:00 (JST) Tokyo open.
8:00 (GMT/BST) London open.
8:00 (EST/EDT) New York open.
2:10 PM (CET/CEST) concertation procedure between central banks across Europe – EURUSD price often comes back to that point between 16:00 – 17:00 (CET/CEST) when European banks close.
9:30 (EST/EDT) New York Stock Exchange open
sometimes there are also rapid spikes in the forex market when the US stock market opens.
10:00 (EST/EDT) Options expire at 10:00 New York cut.
5:00 PM (EST/EDT) New York close – spreads widen with price going both ways quite rapidly – watch out on your SL TP (can close in loss although the position is in profit) as well as pending orders. Move them further away from the price or delete them and enter again after Sydney opens.
The best time to trade forex is between London open and New York close. There is the most volitility and price action in this period.
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