Trading session: The time when the commercial activities in the cities of the world are running in Tuku is called trading session. The forex market is divided into 24 hours depending on the trading activity in New York, London, Tokyo, Sydney, Beijing and other cities. April to October is summer session and October to April is winter session.
There are four trading sessions in the forex market. namely-
Sydney Session > summer (3AM to 12 PM) winter (4 AM to 1 pm)
Tokyo Session > summer & winter ( 6 AM to 3pm)
London Session > Summer (1pm to 11pm) Winter (2pm to 12 AM)
Newyork Session > Summer (6pm tos Am) winter (7pm to 4 am)
We will discuss below which trading session is important for which currency.
Sydney Session : Sydney Session is also called Australian Session. It opens at four in the morning in summer time in Bangladesh and in winter time. It closes at 1 pm. And during summer it opens at 3 am and closes at 12 noon which is very important time for Australian Dollar AUD. At this time, there are high impact news like Australian currency, AUD, they are published. And in this sydney session you will get the highest rise from other currencies in AUD currency. The best pair we have for morning trading is the AUD pair.
Tokyo Session : Tokyo Session opens at 6 am and closes at 3 pm in both winter and summer. In this Tokyo session, the session is again known as the Asian Session. Because Tokyo is the capital of Asian economy. 17% of the total volume traded on this forex is traded in JPY. 21% of all forex trades are traded in this Tokyo session. And the pairs that will have the most movement in this Tokyo session are NZD, AUD, JPY, CNY. The best trading pairs from 6 am to 3 pm Bangladesh time are NZD, AUD, JPY, CNY. Because at this time Japan, Australia's important news is published. The Japanese yen is the world's third forex traded currency.
London session : London session is basically known as European session. The London session opens at 1pm and closes at 11pm during the summer. And winter time opens at 2 pm and closes at 12 pm. 50% of the transactions in this market at home are traded in this London session1 GBP/EUR/CHF for these currencies. London session is very important. This time Sir High impact news is published for GBP/CHF EUR.
Newyork session → Newyork session starts at 6 pm and closes at 3 pm. And winter time opens at seven in the evening and closes at four in the morning. 85% of the forex market trades in the USD pair. Since the New York session opens at six o'clock in the evening, the high impact news for USA Dollar or Canadian Dollar is published from six o'clock in the evening to three o'clock in the evening.
Session overlap: When one trading session is opened and another session is opened, it is called session overlap. For example, Tokyo Session opens at 6 am and Sydney session opens a few hours earlier, it is called Session Overlap.
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