The Forex trading session opens at 01:00 on Monday and closes at 24 o’clock on Friday. During the trading week, the market operates continuously, and brokers supply quotes for all currency pairs.
But additionally distinguish the so-called Asian, European and American sessions. Today they also single out a separate session for Australia and Oceania. What are these sessions, why are they called that, what are they influencing, and when does each session open?
Let’s start with the fact that any currency pair reflects the economic situation in the country and changes to the greatest extent when there is a working day in the country itself, transactions are made, banks work, economic news is released, and so on. At night, when enterprises, banks and everything else does not work, the price of currency pairs may change, but only slightly. That is why the Australian dollar is better to trade in the Australian session (if you are trading with the trend, not in the flat), and the British pound – in the European.
When do Forex sessions open?
Depending on which currency pair and strategy you choose, you need to trade (open and close deals) in a certain session. This does not mean that the entry and exit from the market should be carried out in one session, sometimes the position opens for several days, and even for several weeks – it all depends on the trading system. But if the position is opened and closed during the trading session, and not between them, then the price will most likely pass the most distance during this time. And if you choose the direction in which the transaction was made, you can make good money.
In this regard, we define the start and end time of each session:
- The Australian session (extends to Oceania) opens at 01:00 Moscow time and closes at 09:00.
- The Asian session on Forex starts a little later – at 03:00, and closes at 11:00 Moscow time.
- The European session replaces the Asian session and starts at 09:00, and ends after 8 hours – at 17:00.
- The American session ends the trading day, starting at 16:00 and ending at 24 hours Moscow time.
It should be understood that these intervals are approximate and are determined by the working day in a particular country, depending on the time zone. As a rule, at the beginning and end of the session the market is in the flat, while in the middle it acquires a trend movement. However, this statement is also not an axiom, since the EUR / USD pair is present in both European and American currencies, so the price can fluctuate widely in both the European and American sessions.