Forex Trading Sessions & Market Hours
The forex market never closes during the week — but it is not equally tradeable all day. Here is when to trade what.
The four sessions
| Session | UTC | Character | Best pairs |
|---|---|---|---|
| Sydney | 22:00–07:00 | Thin, week's opening gap on Sunday | AUD/USD, NZD/USD |
| Tokyo | 00:00–09:00 | Range-bound for EUR/GBP pairs; trends for yen pairs | USD/JPY, AUD/JPY, AUD/USD |
| London | 07:00–16:00 | Highest volume (~40%); sets the daily trend | EUR/USD, GBP/USD, EUR/GBP, gold |
| New York | 12:00–21:00 | US data at 12:30 & 14:00; overlap with London is the peak | All USD pairs, USD/CAD, gold |
The London–New York overlap (12:00–16:00 UTC)
Four hours when both of the largest centres are open. Spreads are tightest, volume is highest and the biggest moves of the day usually happen here — especially on the release of US data at 12:30 UTC. If you can only trade one window, this is it.
The London open (07:00–09:00 UTC)
The Asian range on EUR/USD and GBP/USD is frequently broken in the first two hours of London. A classic pattern is the London fakeout: a break of one side of the Asian range that reverses and trends the other way for the rest of the day. Traders mark the Asian high and low each morning and wait for the reaction.
Asian session strategy
EUR/USD and GBP/USD typically move 20–40 pips in Tokyo — suited to range strategies between the overnight high and low. Yen and Aussie pairs move on Japanese and Australian data (usually 23:50 and 01:30 UTC) and on the Tokyo fix at 00:55 UTC.
Times to avoid
- 21:00–23:00 UTC — the New York close / Sydney open: spreads widen dramatically, swaps are charged and liquidity is thinnest.
- Friday after 18:00 UTC — positions are squared before the weekend; moves are erratic.
- Public holidays in the US or UK — half the market is absent.
Daylight-saving time shifts the sessions by an hour in the US and Europe between March/April and October/November; the clock above uses UTC and does not adjust. See also the economic calendar for the day's scheduled releases.
Frequently Asked Questions
What time does the forex market open?
Sunday 22:00 UTC (Sydney) and it runs continuously until Friday 21:00 UTC (New York close), 22:00 UTC in winter.
What is the best time to trade forex?
The London–New York overlap, 12:00–16:00 UTC, for the majors and gold. The London open (07:00–09:00 UTC) is second.
Can I trade forex at the weekend?
No; the market is closed. Some brokers offer weekend crypto or index trading, but not forex.