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What Trading Times are Most Profitable in Forex Trading in Australia?

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 brokers, for additional tips on Forex trading in Australia.

What 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.

Global Forex Market Opening Hours 

The 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 trading, 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 Time
GMT Opening Time
AEST
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.

Sydney Forex Trading Session 

 
Local Time
GMT Time
AEST
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 Time
GMT Time
AEST
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 Time
GMT Time
AEST
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 Time
GMT Time
AEST
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 strategy 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.

When 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.

Bottom Line

The 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.

FAQs

Is AUD/USD good for scalping?

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The AUD/USD is a major currency pair and, therefore, a good Forex pair for scalping as it has tight spreads with deep liquidity.

Which session is best for trading AUD/USD?

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While no best session exists in Forex, the most liquid sessions for the AUD/USD are the Sydney, Tokyo, and London trading sessions, with a fall-off during the New York trading session, especially after London closes.

What times does the AUD trade?

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The AUD, like most currency pairs, trades 24/5. Therefore, Australian Forex traders can trade the AUD from Monday 08:00 (AEST) through Saturday 08:00 (AEST).

What time is the Forex session in Sydney?

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Sydney is the first major financial center and starts the unofficial trading week at 08:00 (AEST) on Monday and closes on Saturday at 08:00 (AEST), which is the close of the US trading session. Forex traders get the most liquidity between 10:00 and 16:00 (AEST), the working hours of the Australian equity market.

What time does the Forex market close in Australia?

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The Forex market does not have official opening and closing times like the stock market. The official close of the Australian equity markets is when liquidity dries up as most traders leave their trading desks. Australian equity markets close at 16:00 (AEST), but Forex traders can trade beyond that time.

What is the best time to trade the AUD in Forex?

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The best time to trade any currency is when traders decide to trade, have the time to focus on trading and have a strategy developed for the present trading conditions. With that in mind, there are select times when trading a currency pair is more suitable due to higher liquidity, which lowers spreads and increases profits. The most liquid times to trade the AUD are during the Sydney, Tokyo, and London trading sessions.

Christopher Lewis
About Christopher Lewis

Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.

 

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