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Forex traders need to make profits, whether that movement occurs over the course of one day, several days, or even several weeks. Intraday traders need volatility within the trading day itself so, by definition, FX traders that are looking to open and close trades within one session need this movement.
What are forex’s trading hours?
The forex market is open 24 hours a day – but each day is broken up into several sessions.
The first of these is the Asia-Pacific session. Australia begins trading, with Sydney opening from 10pm to 7am (all times are UK summer time) the following day, followed by Japan (which makes up the biggest slice of volume in the Asian session) from 11pm to 8am, and then joined by Hong Kong and Singapore. Then comes Europe, with London as the biggest player, opening at 7am and closing at 4pm. Finally, the US begins to enter the fray, with New York opening from 12pm to 9pm. At this point things will begin to wind down before the whole show begins again a few hours later.
It is important to remember, though, that forex trading hours can vary in March, April, October and November, as countries shift to daylight savings on different days.