This free currency strength meter can help you identify weak and strong currencies. In real-time, all 8 major currencies can be monitored. To determine their overall strength, the calculations use 28 currency pairs.
There are important economic events this week that you should be paying attention to. These events will be of great importance to you.
What is the current trend in each currency? Is it bullish/bearish? How strong is the trend? If the currency's trend direction is bullish, it should be plotted on the right. The bullish trend strength of the currency is stronger the closer it gets to the upper left corner. If the currency plotted on one side, the trend direction of the currency will be bearish. The bearish trend strength of the currency is stronger the closer it gets to the lower right corner.
This is especially important if you trade the markets in a shorter timeframe. You may get a false sense of the strength or weakness if you have a gap-open on Monday. It is therefore important to visual check what the currency strength meters are telling you about a currency's strength.
Which currency was the strongest in the last 30 calendar days? This chart will allow you to compare relative strength of major currencies over a certain time.
Today's biggest Forex move has been made by the New Zealand Dollar. The New Zealand Dollar is making a comeback.
Our meter works with more pairs and uses the average gain/loss over a number of time periods to give an overall strength. It doesn't calculate the price of an item like an index. Instead, it measures its strength on a numerical scale.
This calculation is performed across 28 Forex pairs in each of the four time frames. The pairs are then combined to calculate the underlying strength for a currency.
Currency Strength Meter UK. All rights are reserved. Currency Strength Meter - Special thanks to Forex Rate – Site Map
* When the USD is the pair quote, we invert negative or positive values. Base pairs remain the same.
This is a different approach to currency indexes. US Dollar Indexes, for example, are weighted indicators that compare the Dollar's worth relative to a basket or currencies. The US Dollar Index at the time you read this is weighted like this: Euro 57.6%.Yen 13.6%. British Pound 11.9.9%. Canadian Dollar 9.1%. Swedish Krona 4.2%. Swiss Franc 3.6.
The following formula is used to calculate the percentage change for a currency pair:
What is the current trend in each currency? Is it bullish/bearish? How strong is the trend? If the currency's trend direction is bullish, it should be plotted on the right. The bullish trend strength of the currency is stronger the closer it gets to the upper left corner. If the currency plotted on one side, the trend direction of the currency will be bearish. Its bearish tendency strength is stronger the closer it gets to the lower right corner.
There are several important events that you should keep in mind as we enter another week. These are, as usual,...