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If GBPUSD and EURGBP are correlated at -91, they have a negative correlation. This means these pairs will likely move in opposite directions. Therefore, two long or two short trades on these pair would likely cancel one another.



The currency strength meter shows the strength and weakness of currencies on the Forex market. You can view the relative strength for all majors.

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Forex strength meters are now currency correlation matrices. These matrices can provide more precise and detailed information. Forex correlation, just like other correlations signals correlation between currency pairs.



What is the current trend of each currency? Is it bullish, or bearish? Which is the current trend strength? If the currency is plotted to the right, it will be bullish in its trend direction. Its bullish trend strength will be stronger if it is closer to the upper right corner. If the currency's trend direction is bearish, it will be plotted on the left. Its bearish trend strength will be stronger if it is closer to the lower left corner.

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Correlation, in financial terms, is the numerical measure or relationship between two variables. (In this case, these variables are Forex pairs). The range for the correlation coefficient is -1 to +1. A correlation coefficient of +1 signifies that two currency pairs will flow in a similar direction. A correlation of -1 signifies that two currency pairs will move in opposite directions 100% of time. A correlation of -1 indicates that two currencies will move in the opposite direction 100% of the time. Finally, a correlation zero signifies that the relationship is completely random.



Which currency has been most strong in the past 30 day? This chart shows you how each major currency has performed over time.

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Currency correlation is the best way of measuring currency strength. If the Forex correlation matrix is coded using the most current technologies, it's unlikely to cause any issues. However, it offers all the same benefits as a currency strengths meter.



Our meter takes more pairs into account and calculates an average gain or decrease over a few time periods to determine the overall strength. It does not calculate a price as an index, but rather gauges strength on a numerical scale.

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The broad USD Index, which is less known but covers a wider range of currencies, offers a more comprehensive measure. Both functions in a similar manner. They use the same method to calculate the strength and value of the dollar. The trade weighting used for the broad index is a weighting derived from trade statistics. This is the U.S. merchandise import share in annual bilateral commerce.



Currency Strength Meter UK. All rights reserved. Currency Strength Meter created this website.

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Some products could even produce data which is not consistent with the original concept about currency strength. Some applications use smoothing filters, such moving averages, and some others apply filters (e.g. RSI or MACD. Forex traders could be misled by false signals or lose streaks if they add filters to demonstrate currency strength.



You can use our free currency strength tester to determine which currencies are strong or weak. Each of the 8 major currencies is monitored in real time. The calculations are based upon 28 currency pairs to determine the currency's overall strength.

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There are many issues with currency strength indicators, especially when they are poorly coded. The currency strength meter will not provide accurate currency indicator values regardless of any other features. If currency strength meters are outdated, traders may experience:



What is the current trend of each currency? Is it bullish, or bearish? Which is the current trend strength? If the currency is plotted to the right, it will be bullish in its trend direction. Its bullish trend strength will be stronger if it is closer to the upper right corner. If the currency's trend direction is bearish, it will be plotted on the left. Its bearish trend strength will be stronger if it is closer to the lower left corner.