|Session||City||Open (EET*)||Close (EET*)|
|Asian||Tokyo||2:00 – 3:00||11:00 – 12:00|
|American||New York||15:00 – 16:00||0:00 – 1:00|
* Eastern European time: GMT+2 winter; GMT+3 summer
Forex starts its working hours when the Pacific session opens on Monday local time. This session is characterized by a rather low volatility, and, as a matter of fact, this is the most peaceful time on the market.
The Pacific session is followed by the Asian session. Currency pairs that include USD, EUR, JPY and AUD are traded actively during this period. The trading activity of AUD is caused by the intersection of the working time of this session with the Pacific one.
The opening of the European session starts in financial centers such as those in Frankfurt, Zürich, and Paris. However, trading gets more active only after trading starts in London. There is usually a recession during lunch time, and the activity restarts by evening. A fairly strong volatility may be noticed during the European session, because the European zone has a sufficiently large amount of money turnover.
The most active time on the foreign exchange market is the beginning of the American session, because it reaches the opening of trading in New York and the renewal of trading in Europe. Fundamental news of special importance are released in the beginning of the American session. It is characterized by sufficient aggressiveness especially on Friday, before the trading is closed.