Quick Answer: The widest measured hour for EUR/NZD is 14:00 UTC (14:00 GMT or 15:00 BST in London, 09:00 EST or 10:00 EDT in New York). It averaged 31.6 pips (28% of the day’s range), against 16.0 pips at the quietest hour, 19:00 UTC, a 1.98x spread. London is the widest session. Measured from Dukascopy hourly bid candles, last 250 qualifying sessions, as of September 30, 2026. Widest means the widest measured range, not the most profitable, and most retail traders lose money.
| UTC hour | London (winter / summer) | New York (winter / summer) | Tokyo (JST) | Mean pips | Median pips | Share of the day's range |
|---|---|---|---|---|---|---|
| 00:00 | 00:00 / 01:00 | 19:00 -1d / 20:00 -1d | 09:00 | 25.5 | 23.4 | 22% |
| 01:00 | 01:00 / 02:00 | 20:00 -1d / 21:00 -1d | 10:00 | 27.7 | 25.2 | 24% |
| 02:00 | 02:00 / 03:00 | 21:00 -1d / 22:00 -1d | 11:00 | 25.3 | 21.7 | 22% |
| 03:00 | 03:00 / 04:00 | 22:00 -1d / 23:00 -1d | 12:00 | 21.7 | 18.7 | 19% |
| 04:00 | 04:00 / 05:00 | 23:00 -1d / 00:00 | 13:00 | 18.4 | 16.5 | 16% |
| 05:00 | 05:00 / 06:00 | 00:00 / 01:00 | 14:00 | 19.2 | 17.0 | 17% |
| 06:00 | 06:00 / 07:00 | 01:00 / 02:00 | 15:00 | 22.0 | 20.1 | 19% |
| 07:00 | 07:00 / 08:00 | 02:00 / 03:00 | 16:00 | 25.3 | 24.2 | 22% |
| 08:00 | 08:00 / 09:00 | 03:00 / 04:00 | 17:00 | 25.7 | 23.5 | 22% |
| 09:00 | 09:00 / 10:00 | 04:00 / 05:00 | 18:00 | 22.3 | 20.2 | 20% |
| 10:00 | 10:00 / 11:00 | 05:00 / 06:00 | 19:00 | 20.6 | 18.7 | 18% |
| 11:00 | 11:00 / 12:00 | 06:00 / 07:00 | 20:00 | 20.8 | 19.0 | 18% |
| 12:00 | 12:00 / 13:00 | 07:00 / 08:00 | 21:00 | 25.1 | 22.7 | 22% |
| 13:00 | 13:00 / 14:00 | 08:00 / 09:00 | 22:00 | 27.7 | 24.9 | 24% |
| 14:00 (widest) | 14:00 / 15:00 | 09:00 / 10:00 | 23:00 | 31.6 | 30.5 | 28% |
| 15:00 | 15:00 / 16:00 | 10:00 / 11:00 | 00:00 +1d | 30.1 | 25.3 | 26% |
| 16:00 | 16:00 / 17:00 | 11:00 / 12:00 | 01:00 +1d | 21.2 | 18.6 | 18% |
| 17:00 | 17:00 / 18:00 | 12:00 / 13:00 | 02:00 +1d | 17.9 | 14.8 | 16% |
| 18:00 | 18:00 / 19:00 | 13:00 / 14:00 | 03:00 +1d | 17.5 | 14.6 | 15% |
| 19:00 (quietest) | 19:00 / 20:00 | 14:00 / 15:00 | 04:00 +1d | 16.0 | 13.0 | 14% |
| 20:00 | 20:00 / 21:00 | 15:00 / 16:00 | 05:00 +1d | 16.7 | 14.5 | 15% |
| 21:00 | 21:00 / 22:00 | 16:00 / 17:00 | 06:00 +1d | 28.0 | 26.1 | 24% |
| 22:00 | 22:00 / 23:00 | 17:00 / 18:00 | 07:00 +1d | 23.1 | 18.8 | 20% |
| 23:00 | 23:00 / 00:00 +1d | 18:00 / 19:00 | 08:00 +1d | 17.7 | 14.8 | 16% |
| Session | UTC window (Apr–Sep / Oct–Mar) | Mean pips | Share of the day's range |
|---|---|---|---|
| Tokyo | 00:00-08:59 | 75.0 | 68% |
| London (widest) | 07:00-15:59 / 08:00-16:59 | 76.8 | 70% |
| New York (quietest) | 12:00-20:59 / 13:00-21:59 | 70.0 | 64% |
| London/NY overlap | 12:00-15:59 / 13:00-16:59 | 58.7 | 54% |
As of September 30, 2026. Source: Dukascopy hourly bid candles. Mean and median of each UTC hourly bar's high-low range in pips (pip size 0.0001 for EUR/NZD). Sessions overlap in time, so their ranges do not add up to the full day. The 21:00 and 22:00 UTC hours contain the daily New York rollover, when spreads typically widen and bid candles register that widening as range. Widest and quietest mean measured range, not profitability. Past ranges are not a forecast of the next session.
Reading the hourly shape for EUR/NZD
EUR/NZD peaks inside the London/New York overlap, the hours when both centres are open (12:00-15:59 UTC in April-September, 13:00-16:59 in October-March). Its widest hour, 14:00 UTC, is shared by 20 of the 28 pairs in our table, so it follows the market-wide pattern rather than a regional one of its own. The widest hour averaged 31.6 pips, 28% of the day’s range in a single hour; the next widest were 15:00 UTC (30.1 pips) and 21:00 UTC (28.0 pips). The widest hour runs 1.98x the quietest (19:00 UTC, 16.0 pips), a gentler gradient than the steepest pairs in the table, so for EUR/NZD the hour on its own separates busy from quiet less sharply. The quietest hour, 19:00 UTC, comes after the New York afternoon has faded and before the Asian session builds (14:00 EST or 15:00 EDT in New York).
Hours in the table are UTC bar opens: the 13:00 row is the bar from 13:00 to 13:59. The London and New York columns apply a fixed offset, so in the weeks around the clock changes in March, April, October and November the real local time of a bar can differ by an hour from the column you are reading. The sessions guide lays out which weeks the UK/EU and US calendars diverge.
Which session is widest for EUR/NZD
London is the widest session for EUR/NZD: a mean high-low of 76.8 pips inside its own window, about 70% of the full day’s range. The quietest window was New York at 70.0 pips (64% of the day). The four-hour London/New York overlap carried 58.7 pips on its own, 54% of the day’s range. The widest hour and the widest window agree on the same part of the day: the busiest single hour is inside the overlap, and London, the window it belongs to, is also the widest. For scale, EUR/NZD’s average daily range over the last 250 sessions was 114.3 pips (as of September 30, 2026); the hourly figures above are slices of that day. The day-of-week split is on the pair’s average daily range page, and the 28-pair weekday table shows how EUR/NZD compares.
Setting an EA time filter for EUR/NZD
Most MT4 and MT5 brokers do not run the platform clock on UTC. A common setup is GMT+2 in winter and GMT+3 in summer, so a UTC reading has to be translated before it goes into an EA input. The widest hour, 14:00 UTC, is 16:00 on a GMT+2 server clock and 17:00 on GMT+3. The quietest hour, 19:00 UTC, is 21:00 on a GMT+2 server clock and 22:00 on GMT+3. Confirm your own broker’s stated offset instead of assuming it, and check whether the EA’s inputs expect server time or GMT, because a GMT figure typed into a server-time field trades two or three hours off target.
Split by UTC calendar month, the widest hour was 21:00 UTC in April-September (33.4 pips) and 15:00 UTC in October-March (38.8 pips). A fixed UTC hour is a different point in the London or New York day depending on the season, and each half-year is only about 120 to 130 bars per hour, so read the two as a range rather than a rule.
Whether a filter should include the widest hours or skip them depends on the strategy: breakout and momentum rules want the range, while grid and mean-reversion rules often prefer calmer windows. Neither choice is a claim about profit; the table only says where EUR/NZD has moved most and least. The sessions guide covers how to set and recheck the window, and you can open a free XM account to test the time filter on a demo first, since demo results are not live results.
How this is measured
Each figure is the mean or median of (bar high minus bar low) divided by the pip size, for every Dukascopy hourly bid bar of EUR/NZD that falls on one of its last 250 qualifying sessions (a weekday with at least 12 hourly bars and a non-zero daily range), covering October 14, 2025 to September 30, 2026. Session figures use the high-low of each session’s own UTC window, and the share of the day is the mean of the session range divided by that day’s full range. The full definition is in the method section of the hourly range table. Past ranges describe what has already happened and are not a forecast of the next session.
Related
- EUR/NZD average daily range in pips: the daily range these hours sit inside
- Forex volatility by hour: the 28-pair by 24-hour table
- Forex trading sessions explained: session times, daylight saving and broker server time
- Forex session volatility table: Tokyo, London and New York ranges for all 28 pairs
- Most volatile day of the week in forex: the weekday table
All 28 pairs
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