What time does the market open?

Beginner Questions
1

If I have to consider EOD data, what time (in GMT) do I consider the time when the forex market opens and at what time is it considered to close ?

Thanks

2

Here’s a great resource for trading sessions. Hope it helps:

Trading Sessions | When Can You Trade Forex? | Learn Forex Trading

3

Thank you so much for the reply. So do I consider the beginning of the Tokyo Session to be the start of the day and the end of the New York session to be the end ?

4

No, it’s 24 hrs.

5

The retail forex market (the market that we trade) operates 24/5, from 8am Monday morning in New Zealand, until 5pm Friday afternoon in New York. Between those times, it does not close. So, strictly speaking, there is no “end of day” in our market, except for Friday.

However, there is a daily recurring pattern of increasing and decreasing volume in the forex market. The lowest volume each day typically occurs between 5pm and 6pm New York time. This minimum point in daily volume represents the closest thing we have to a “closed” market, or an “end of day”, in the currency markets. For that reason, I suggest 5pm New York time as the start and end of each “forex day”.

And, if you use PIVOTS in your trading, I suggest using daily pivots calculated at 5pm New York time each day.

Note that [B]5pm New York time is 2100 GMT from March to November,[/B] when the U.S. is on daylight saving time; and it is [B]2200 GMT from November to March,[/B] when the U.S. is on standard time.