Looking ahead as Quarter 1 of 2020 Closes We are in the final hours for quarter one of 2020, and we have...
We can conclude that currency strength is determined by the high correlation between these pairs. The GBP (the common currency among the pairs) is therefore the most powerful currency in this instance.
Here are some key events to keep an eye on as we move into week 2. These are, as always,...
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The most powerful currencies against other currencies are marked green and the weakest are red.
Currency Strength Meter Supreme Edition, a currency strength plugin for Admirals accounts, is available as a complimentary download. It comes with an indicator package that includes 16 new indicators. This allows you to compare different currency pairs live.
You should pay attention to important economic events happening this week. These events deserve your attention.
A currency correlation matrix can be used as a Forex strength indicator for a variety of reasons. These include its simplicity, its usefulness as an indicator of short-term trends, its ability to eliminate double exposure, unnecessary hedging, and the ability to indicate high-risk trades.
Use the Live Currency strength Meter to instantly compare the performance and relative strengths of major currencies. You can even see it in colour to give you a better understanding of the Forex market.
A currency strength meter can be a great way to test it out, but you don't want to invest in an expensive indicator.
Here's why Dollar strength is low. Anyone who has checked the currency strength meter within the last week will have noticed that it is low.
In the first pair, GBP is used as the quote currency. Long trades assume that the EUR will strengthen against GBP. In the second pair, GBP is considered the base currency. Long trades anticipate the GBP to strengthen in comparison to the USD. This means that a long EURGBP trade is one that expects GBP to weaken and a long GBPUSD trade is one that expects GBP strength.
This table keeps you up-to-date and compares currency performance with quotes from the previous trading day. % represents the change in currency performance relative to the one we have compared it with up to this very moment.
If GBPUSD and EURGBP have a correlation value of -91, then this indicates that they have negative correlation. These pairs are likely move in opposite directions so it is possible to cancel out each other with two or more trades.