Yes, I have read the market hours for Forex and I have yet to find an answer for what I am looking for. I find that (I am Eastern time in USA) the NY hours are 7:30am. Someone please explain to me what “opens?” Is there a building on Wall St. called “Forex” that flips the sign from “closed” to “open?” I keep hearing how it is a 24 hour market and yet there are hours posted all over the internet for every pair and then they close for the weekend.
Businesses, financial institutions and trading-floors in various different parts of the world, according to their own time-zones.
The forex market itself is 24/5, as you rightly observe.
The Euro is [I]most[/I] traded in Europe and in the US, so the volume/activity picks up hugely at 2.00am EST when Frankfurt opens, and more when London opens at 3.00am EST, and even more still a few hours later when New York also opens and Europe/London are still both open.
It relates to market activity and volumes traded, in other words.
There’s a “one-hour candle” 24 times per day, but if you’re trading EUR/USD or GBP/USD, the one-hour candle that starts at 9.00am EST represents [I]huge[/I] volume (and arguably “significance”) compared with a one-hour candle just before the “Asian session” opens, after New York has closed. You [U]can[/U] trade currencies then, as well, if you want to, because it’s a 24/5 market … but I’d normally rather not, myself.
Yes, sorry … I didn’t realise my wording was ambiguous, there (am only a foreign chick, I miss these English niceties, sometimes). :8:
I didn’t mean that I’d trade something else then (and I wouldn’t), just that that period of the day, after NY closes and before NZ/Asia open, isn’t when I’d trade. To be honest, I don’t trade the Asian session either, but that’s as much to do with my own time-zone and working hours as anything else. I do all my trading well within the London open and the NY close (that’s about 13 hours or whatever … which is more than enough, anyway).