The Forex market is a 24 hrs market. It opens 24 hours a day, from Sunday 10pm Nigerian time till Friday 11 pm Nigerian time. Between 11.01pm on Friday to 9.59pm
on Sunday, the market remains temporarily closed and no trading goes on.
The market opens daily by 10 pm, starting from the New Zealand Session. It then moves to the Australian Session, then to the Asian Session, then to the London Session and finally to the New York Session, where it stays till it closes by 11pm Nigerian Time.
The Timing
New Zealand Session opens by 10:00 pm Nigerian time and closes by 4:00 am Nigerian time.
Australian (Sydney) Session Opens by 12 midnight and closes by 10:00 am
Asian (Tokyo) Session opens by 1:00 am and closes 10:00 am
London (European) Session opens by 9:00 am and closes by 6:00 pm
New York (US) session opens by 2:00 pm and closes by 11:00 pm
Market Intersection (Open at the same time)
Market intersection simply refers to those periods of the day when more than one Forex market session is open. During periods of market intersection, more traders usually participate in the Forex market. This, results in greater market volatility and volume in terms of more money exchanging hands faster between traders. For the smart Forex trader, market intersection, provides an excellent opportunity to make more profits in less time with less effort. It also offers some of the best times to trade.
New Zealand Session intersects with Australian Session from 12 midnight - 4:00 am
New Zealand Session, Australian Session and Asian Session, all intersect with one another from 1:00 am - 4:00 am
Australian Session intersects with Asian Session from 1:00 pm - 10:00 am
Australian Session Asian Session and London Session, all intersect with one another from 9:00 am – 10:00 am
London Session intersects with New York Session from 2:00 pm - 6:00 pm
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