The foreign exchange market is where currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business.
One of the unique attributes of the Forex market is that it is open 24/ 5 days a week. This means that traders around the world can trade whenever they want to throughout the week. However, not all times are matched equally. There are Forex trading times around the world when price action is consistently volatile, and there are also periods when it is completely muted..
Since the markets are established in different locations and time zones it becomes hard to track the trading hours of various instruments.
Although different currencies can be traded anytime a trader wishes, but cannot monitor a position for such a long period.
In order to minimize such risks, a trader must be aware of when the Forex market is most commonly volatile, and decide which trading strategy & style are best suited for that time being.