One of the most important facts in Saudi Forex trading is its Forex market hours. The Forex market operates 24 hour a day, 5 days a week with three main sessions namely the Asian session (Tokyo), US session (New York) and the European session (London).
We can divide Forex market hours in day trading and evening trading. There is sometime when two forex market sessions are open at the same time which is known as session overlap. These sessions are good to trade as Forex market activities are very fast in the session.
London Forex Market Session (Riyadh time)
The first session of trading session which we could refer to as the European trading session, begins at 10:00 AM Riyadh time and ends at 6:00 PM. The European trading session is the main and the most active trading session that could direct traders to great liquidity leverage, meaning a lot of trading activities are carried out at these times. This session overlaps with the other two sessions which are the US trading session and the Asian trading session.
New York Forex Market Session (Riyadh time)
Then New York Forex Market opens which is referred as the US trading session, which begins at 3:00 PM Riyadh time and close at 8:00pm 11:00 PM Riyadh time. The liquidity in this session is large between 3:00 PM to 6:00 PM due to the time of overlap between European and US sessions. Most of the economic data reports and data are released when this sessions starts.
Tokyo Forex Market Session (Riyadh time)
The third trading session is the Asian trading session, which begins at 11:00pm GMT and ends at 8:00 am GMT. Forex traders in KSA try to avoid this session due to the slim chance of volatile and liquidity leverage. Data’s for major counties are released during this session, consequently the currency pair’s move as compared to that of the minors.
Tips on Saudi Forex Market hours
Forex market hours in Saudi Arabia are very favorable and give traders a huge advantage of all trading activities. However, just because you can trade the market any time of the day or night doesn’t necessarily mean that you should. Most successful day traders understand that more trades are successful if conducted when market activity is high and that it is best to avoid times when trading is light.
- Concentrate your trading activity during the trading hours for the three largest Market Centers: London, New_York, and Tokyo.
- Most market activity will occur when one of these three markets open.
- Some of the most active market times will occur when two or more Market Centers are open at the same time.