If you are a crypto investor looking for the best time to trade forex in Australia, this article is for you. Kindly read through for more information.
One of the most attractive and interesting elements of foreign exchange trading is the amount of time the markets are open.
Unlike the stock market, which has very rigid trading hours, the Australian currency traders can trade 24/5 from 7:00 a.m. on Monday.
It’s time to learn about the best time to trade forex in Australia and the different forex trading sessions available.
About Forex Trading Time
The forex market is open 24 hours a day in many parts of the world, from around 5 p.m. EST on Sunday until 4 p.m. EST on Friday.
The ability of the market to trade over 24 hours is due in part to different international time zones.
At any point in time, at least one market is open, and there are a few hours of overlap between one region’s forex market closing and another opening.
The international scope of currency trading simply means that there are always traders worldwide making and meeting demands for a particular currency.
Currency is also needed around the globe for international trade, by central banks, and global businesses.
The Central banks had relied particularly on foreign-exchange markets since 1971 when fixed-currency markets ceased to be because the gold standard was dropped.
Since then, most international currencies have been “floated” instead of being tied to the value of gold.
What is the Forex Market?
The foreign exchange market is a place where currencies are traded. Currencies are essential because they enable us to buy goods and services locally and across borders, and international currencies have to be exchanged to conduct foreign trade and business.
The forex market is the largest and biggest financial market globally. Trading in the forex market is not done at a fixed central location but is conducted between participants by mobile phones and electronic communication networks (ECNs) in various markets globally.
Forex Market Opening Times in Australia
The best time to trade forex in Australia Following the Australian Eastern Standard Time (EST), the forex market hours are Sydney, 7:00 a.m. to 4:00 p.m. AEST; at 9:00 a.m., the Tokyo (Japan) market opens, and then before the market closes, the London forex market comes online at 5:00 p.m.; New York market opens at 10:00 p.m. and closes at 7:00 a.m. when the Sydney (and New Zealand) Forex market.
The Best Time to Trade Forex in Australia
Based on New research, the best time to trade forex in Australia for most traders is from 2 p.m. to 6 a.m.
Forex Session Times you Should Know
There are four trading forex market sessions:
The forex market can be divided or broken up into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session.
- Sydney session is open from 9:00 p.m. to 6:00 a.m. UTC
- Tokyo session is open from 12:00 a.m. to 9:00 a.m. UTC
- London session is open from 7:00 a.m. to 4:00 p.m. UTC
- The New York session is open from 1:00 p.m. to 10:00 p.m. UTC
Asian Session Forex Time (Est)
6:PM to 3:AM
The Asian session begins from 6:PM to 3:AM Eastern Standard Time (EST).
What is the Best Time to Trade Eur/USD?
The best time to trade the EUR/USD is between 1300 and 1600 GMT to maximize efficiency.
During this time, you will see the biggest moves of the day, which only means greater profit potential, and the commissions and spreads will have the least impact relative to potential profit.
The Best Time to Trade AUD/USD
You can trade forex market pairs 24/7, but there are prime/major times to trade the AUD/USD when the forex currency pair is more volatile. The Aussie dollar to US dollar trading hours is generally busy between 19:00 and 04:30 (GMT).
Best Time to Trade USD/JPY
The ideal time and period for USD/JPY trading are generally 12:00 to 15:00 GMT when the forex activity is at its highest level. The New York and London markets overlap with this window, and trading activity tends to be at a high level, though the Tokyo market isn’t open for the day.
The Best Time to Trade Aud/Jpy
You can mitigate this by trading forex during peak hours for Australian and Japanese markets between midnight and 6 a.m. GMT. This is when liquidity for AUD/JPY is at its highest.
What Makes the Australian Dollar Move?
Australia has a floating exchange rate, meaning that movements in the Australian dollar exchange rate are determined by the supply and demand of Australian dollars in the foreign exchange market.
Why does the Forex Market Close on Weekends?
The Forex market never closes, and it’s a 24-hour marketplace that opens seven days a week.
However, retail traders like you and I can only trade the market the hours between Sunday at 5 p.m. EST and Friday at 5 p.m. EST.
Kindly drop your view with us in the comment section below on the best time to trade forex in Australia.
Watch the video below to know the best time to trade forex in Australia: