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This is different from a currency index. The US Dollar Index is an example of a weighted index that compares the Dollar's value to a basket currency. At the time this article was written, the US Dollar Index is weighted as:Euro 57.6%.Yen 13.6%. British Pound 11.9%. Canadian Dollar 9.1%. Swedish Krona 4.2%. Swiss Franc 3.6%.



It gives traders a quick snapshot of the currency's strength. It's merely a "feeling for the market", and we always use this with longer-term indicators like MACD, SMA.

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This is a useful tool to help you decide which currencies are worth trading and which ones to avoid. You might find a trading opportunity if one currency is extremely strong and the other suddenly becomes weaker. This is known as momentum. If two currencies are weak or strong, or have average strength, it is likely that there is a range of movement or sideways movement. These pairs are not recommended for trading.



These charts highlight the currency pairs with the highest price movements. These charts can help traders decide which Forex pairs offer the best trading possibilities.

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Because there is such high correlation between the currencies, it is easy to assume that the GBP (the currency common between the pairs) drives these movements. Therefore, the GBP is the strongest currency.



You must understand which currency pairs offer the greatest chance of success to become a successful trader. The currency strength meter, which is free to use, will provide you with a quick overview about the underlying movements of each currency on the Forex markets.

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The Admirals Forex correlation matrix shows the correlations among the following currency pairs.



If the US Dollar remains strong while the Japanese currency is weak, then it is evident that we have a low risk trading opportunity by buying long USD/JPY Forex pairs.

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The GBP is the quotation currency in the first pair. This means that long trades expect the EUR's strength against the GBP. The GBP is the base currency in the second pair. This means that long trades expect the GBP against the USD to strengthen. A long trade in EURGBP means that it expects that the GBP will weaken. However, a long trading in GBPUSD would expect that the GBP will strengthen.



Feel free to contact us with any suggestions or ideas about the functionality of our currency strength meter.

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It monitors our forex data in real-time every minute and determines current strength. Refresh the page to see any changes.



Understanding the relative strength each currency can help you become a successful trader. This indicator helps traders understand which trading pairs perform best on different timescales. This information will provide traders with a competitive edge in their trading. The Currency Strength Indexator is fully configurable and built to maximize trading success.

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The meter reads every forex pair for the past 24 hours and then applies calculations to each. The meter then combines all the pairs into a single currency (e.g. EUR/USD or GBP/USD), USD/JPY or EUR/GBP etc. and determines the current strength.



The final decision is yours about how to use these tools. Most traders use a strength meter in conjunction with an existing trading strategy in order trade in the same direction of the underlying strength.