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The currency market hours stretch from Monday morning in Sydney, Australia to Friday afternoon in New York. During that period the market is open somewhere around the globe at all hours of the day or night.

Still, it is not a 24/7 market because it does shut down on weekends. 24/5 would be more accurate.

If you have to know the specific times that the markets open and close, you have to take time zones into consideration. It is very simple when expressed in UTC. This is Universal Coordinated Time, earlier known as Greenwich Mean Time. This is the regular (winter) time in Greenwich, London which is the line of zero longitude on the earth.

New York is lagging 5 hours the UK so the global forex market opens and closes at 5 pm Sunday/Friday in New York, 14.00 on the US west coast, 23.00 in Germany, 8 am Monday/Saturday in Sydney.

Things get a little more difficult when you start to try to take summer time daylight saving into consideration. This makes one hour difference in countries that adopt it. But daylight saving operates in a different way in the southern half of the globe lands such as Australia which have summer time from September to March instead of March to September.

The hours of the various leading national markets are as follows:

Sydney: 10 pm to 7 am UTC
Tokyo: 12 midnight to 9 am UTC
London: 8.00 am to 5.00 pm UTC
New York: 1.00 pm to 10.00 pm UTC

Or we can state that in EST (Eastern US time):

Sydney: 5 pm to 2 am EST
Tokyo: 7.00 pm to 4.00 am EST
London: 3.00 am to 12.00 noon EST
New York: 8.00 am to 5.00 pm EST

You can see that these are equivalent to 24 hour cover.

Anyhow, this does not inevitably imply that trading will be good at all of these times. Just after a main market opens, the quotes may be particularly fast-moving and unpredictable. A lot of traders will remain on the sidelines of the foreign exchange market for up to an hour four times a day when the currency markets are waking up in these main cities.

The US dollar is the most traded currency by a long way, involved in 2.5 times as many trades as its runner-up rival, the euro. This suggests that events concerning the USA have a greater influence on the forex markets than news concerning other countries. The New York market begins to weaken around 3 pm local time (8 pm UTC) and if you are involved in a US dollar pair, this can be a good time to stop trading for the day.

So theoretically you can trade 24 hours a day from Sunday night to Friday night. Automated program in the form of a forex robot can even make this physically feasible. Still, a cautious trader will select his times and will not be invested during all of the forex market hours. Moreover, trusting hard-earned cash on a robot is a risk most traders are not willing to take. A much better approach is using forex signals. With reliable forex signals you can improve your risk profile dramatically. There are numerous forex signal service providers online, but always check out the track record, and test the signals in simulation trading, prior to starting to trade on real account.