Forex Trading Sessions | Mentor Tips

Forex Trading Sessions

Although the Forex market is open 24 hours a day, the market is not active the whole day. When the market is not active, it is much more difficult to make money. The Forex market can be broken up into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. The Open and Close Times for each session are set out in the table below:

 

TIME ZONE EST GMT
Sydney Open 5:00 PM 10:00 PM
Sydney Close 4:00 AM 7:00 AM
Tokyo Open 7:00 PM 11:00 PM
Tokyo Close 4:00 AM 8:00 AM
London Open 3:00 AM 7:00 AM
London Close 12:00 PM 4:00 PM
New York Open 8:00 AM 12:00 PM
New York Close 5:00 PM 9:00 PM

These times do vary depending on when countries shift to/from daylight savings time (DST). As you may have noticed, there are 3 periods of overlap:

  • New York and London: between 8:00 am — 12:00 noon EST
  • Sydney and Tokyo: between 7:00 pm — 2:00 am EST
  • London and Tokyo: between 3:00 am — 4:00am EST

These are the busiest times of the trading day because the volume increases when two markets are open at the same time. The average pip movement of the major currency pairs during each Forex trading session can be seen in the table below:

 

PAIR TOKYO LONDON NEW YORK
EUR/USD 76 114 92
GBP/USD 92 127 99
USD/JPY 51 66 59
AUD/USD 77 83 81
NZD/USD 62 72 70
USD/CAD 57 96 96
USD/CHF 67 102 83
EUR/JPY 102 129 107