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Simon Trevor wrote:
There is a generally accepted opening and closing time in the forex market.
The market opens in New Zealand followed soon by Sydney and Japan and the
rest of Asia. The close is the close of New York which also happens
coincide
with the opening in New Zealand. Hence the close of one day, and the
opening
of the next will be basically the same. The market trades 24 hours, but you
need not consider this a disadvantage if you only want to trade during your
business hours. You can simpy plot the data for this time frame and ignore
the fact that it trades 24 hours if you wish(which is really what happens
in
currency futures).
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EForex considers the "night" session to be 3pm to 7pm Eastern time. This
corresponds to the close of the NY market to the open of the Tokyo market.
EForex also has a higher margin requirement during this time, probably
reflecting decreased liquidity.
Paul Weston
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