Forex Market Opening Hours on Mondays
Forex stands for "Foreign exchange market." The Forex market began working in 1971, and the market growth accelerated in 1998. Nowadays, many enthusiasts worldwide are attracted to the forex market and are trading and investing. As you know, in addition to foreign currencies, major and famous companies' stocks, some indices, commodities, metals, etc., can be traded in the forex market. Making money and having continuous profits in the forex market requires a lot of training and high skill in trading. But before getting specialized information and training on the forex market, it is necessary to know the basic and essential concepts and information, including what are the working hours of the forex market, as well as what days the forex market is open and closed.
Many users have a question about the "Forex Market Opening Hours on Mondays." If you are one of those who have recently become familiar with the forex market and getting basic information and want to know what time the forex market opens, stay with us till the end of this article from Trendo.
Contents
Forex Market Opening Time
The Forex market is open 24/5 from Monday to Friday worldwide, and traders are active and trading at different hours of the day and night. Considering that forex is an international market and everyone from all countries has access to the market, but because the time of different countries differs due to geographical location, people must adjust and coordinate the forex market's opening time with their local time. Therefore, it is necessary to know the exact opening time of the forex market.
Note that the forex market has four main markets or trading sessions based on major currency trading centers and different time zones, including Sydney, Japan, London, and New York, respectively, and each trading session lasts an average of 9 hours.
Forex opening hours begin with the Sydney Stock Exchange in Australia and end with the New York Stock Exchange in the United States. In other words, the forex market is open from the opening time of the Sydney session on Monday morning (local time) until the closing time of the New York session on Friday (local time). When each of these trading sessions' working hours ends, another trading session opens and starts working.
So, trading sessions or main forex sessions are as follows:
- Sydney, (Australia)/li>
- Tokyo (Asia)
- London (Europe)
- New York (USA)
To view the forex market's working hours online, refer to the "Market 24h Clock" website at https://market24hclock.com/ address.
The Forex Market's Best Working Hours
The best time for forex trading in the forex broker is when the market has the highest trading volume so it is easy to buy and sell. As mentioned, the two main markets of London and New York overlap has the highest trading volume. This overlap is between 13:00 and 17:00.
As you can see in the table, the London and New York sessions usually provide the most movement, so these two sessions' overlap can create good trading opportunities for traders whose strategy is suitable for high volatility.
The Best Trading Day of The Week
Trading signals work better from Tuesday to Thursday, so we recommend trading in the forex market from Tuesday to Thursday. On the first and last trading day, the trading volume decreases dramatically. On Mondays, since traders have just returned from a two-day vacation, they still haven't decided which direction to take in the market, so many of the signals on Monday are invalidated by Tuesday. It is also recommended not to keep any trades open on the last working day without prior planning because, due to news and events on holidays, we will witness a Gap formation on Monday, and you might suffer losses on your open trades.
Read More: Gap in Forex (types of Gap and trading strategy in Gap)
Forex Market Holidays
Forex market holidays are as follows:
- Weekends are Saturdays and Sundays
- Christmas
- New Year's Day
- Holidays for different occasions
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