When Is The Best Time To Trade Forex In Australia [Year]?
Date
7/17/2024 3:32:02 AM
(MENAFN- Daily Forex) -content">The Forex market has no official opening and closing times and operates 24/5, so what is the best time to trade Forex in Australia? In this article, we have provided the necessary details to help Australian Forex traders understand how to approach Forex trading times .Review our list of the top-rated Australian Forex broker , for additional tips on Forex trading in Australia Are the Forex Market Opening Hours in Australia?Since the Forex market does not have official opening and closing hours, Forex traders must accept the unofficial ones. Sydney is one of the four core Forex trading sessions and the first one opening the new trading week on Monday at 08:00 (AEST). On a side note, New Zealand is the first Forex market open for trading when the Forex trading week starts.For Australian Forex traders, the start of the Sydney Forex trading session can be the best time to trade Forex in Australia, especially if they trade currency pairs active during the session Forex Market Opening HoursThe Forex market is open 24/5 without opening and closing times, but the trading week starts Monday 08:00 (AEST) and closes Saturday 08:00 (AEST). Since the Forex market operates 24/5, algorithmic tradin , accounting for 80%+ of all Forex trading volumes, is vital to profitable, sustainable Forex trading.Despite the 24/5 nature of the Forex market, four trading sessions account for 75% of global Forex trades and London and New York for over 50%. For many Forex traders, the best time to trade Forex in Australia is during those four sessions.The four major Forex trading sessions: Sydney, which unofficially starts the trading weeks Tokyo, which injects the bulk of Asian liquidity London, which accounts for most of the Forex trading volume New York, which unofficially ends the trading week
Below is a table showing the unofficial Forex market opening hours for the four core Forex centers:
Local Opening TimeGMT Opening TimeAEST
| Sydney | Monday 08:00 | Sunday 22:00 | Monday 08:00 |
| Tokyo | Monday 09:00 | Sunday 24:00 | Monday 10:00 |
| London | Monday 08:00 | Monday 07:00 | Monday 18:00 |
| New York | Monday 08:00 | Monday 12:00 | Monday 23:00 What Are the Forex Market Sessions?When deciding on the best time to trade Forex in Australia, Forex traders can consider the unofficial opening and closing hours of each core Forex center, as outlined below Forex Trading Session
Local TimeGMT TimeAEST | Open | Monday 08:00 | Sunday 22:00 | Monday 08:00 | | Close | Monday 16:00 | Monday 06:00 | Monday 16:00 Tokyo Forex Trading Session
Local TimeGMT TimeAEST | Open | Monday 09:00 | Sunday 24:00 | Monday 10:00 | | Close | Monday 16:00 | Monday 09:00 | Monday 19:00 London Forex Trading Session
Local TimeGMT TimeAEST | Open | Monday 09:00 | Sunday 24:00 | Monday 10:00 | | Close | Monday 16:00 | Monday 09:00 | Monday 19:00 New York Forex trading session
Local TimeGMT TimeAEST | Open | Monday 08:00 | Monday 12:00 | Monday 23:00 | | Close | Monday 16:00 | Monday 20:00 | Tuesday 08:00 When is the Best Time to Trade Forex in Australia?The best time to trade Forex in Australia is when Forex traders have time to trade the right trading strateg for the present market conditions. The most liquid times, which feature higher profitability amid lower spreads , depend on the currency pairs Australian Forex traders wish to trade. During the Sydney and Tokyo sessions, the most liquid currency pairs include the AUD/USD , AUD/JPY , AUD/NZD , USD/JPY , NZD/JPY , and NZD/USD .Which Currencies are Most Active at Different Times?The most active currencies are always the ones with overlapping trading sessions. For example, the AUD/JPY is the most active when Sydney and Japan are open for trading, as measured by equity market trading hours. The AUD/USD would have more activity during the overlap of the Sydney and New York trading sessions, which happens during the after-hour trading session in New York is it Better Not to Trade?Successful Forex traders do not only focus on the best time to trade Forex in Australia but also when to avoid trading.Here are trading conditions Forex traders should consider avoiding: Illiquid trading periods for currency pairs, trade what the Forex market offers and never force your strategy on a currency pair out of convenience Never trade when tired or uninformed Avoid trading in a distracting environment Which is the Best Time Frame for Beginners to Trade?Since beginners lack the knowledge to trade shorter time frames, the best time frames are longer ones like H1 and H4 LineThe best time to trade Forex in Australia is when Forex traders can focus on executing their strategy. They should consider the four core Forex sessions, which account for 75%+ of global trading volumes, as they lower spreads amid deeper liquidity, which increases profits. | | | | |
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