Currency market open 24 hours, 5 days a week. It starts 17.00 EST on Sunday to 17.00 EST on Friday. Traders can simultaneously trade during those time range. However, it is not wise to trade continuously, as the market does not always show good movement or setup all the time. In general, there are 4 major sessions in currency market (see below)
1. Sydney opens 17.00 EST (starts Sunday afternoon EST)
2. Tokyo opens 19.00 EST
3. London opens 03.00 EST
4. New York opens 08.00 EST (closes Friday 17.00 EST)
When the major currency center opens, there are a lot of volume and liquidity. During this active market hours, the market price can move up and down, give traders a chance to trade and make nice profit. During slow time (when currency center closes), the volume and liquidity drop, and the price movement usually goes sideways.
The most favorable time to trade is during London opens. There are at least 6 top bank traders actively trading with 51.78% of market share. The second largest market share happens during New York sessions (27.2%). The Sydney and Tokyo sessions usually do not give high volatility, because the market volume is not as high as London’s.
Other trading opportunity that need to be considered is news events. News events can be schedule (Non Farm, GDP, Unemployment Rate, Interest Rate Decision, etc) and non schedule (natural disaster, war, etc). News events can boost market price to certain direction and it provides traders a great opportunity to make profit too.
In generals, best times to trade is during London hours, New York hours, overlap between London and New York hours, and during news events. Apiary Fund can help you to determine the time zone by using this link :