As we move into another week, there are several key events to keep on your radar. As usual, these are …
Currency Strength Meter Supreme Edition (free currency strength meter plugin) is only available to Admirals account traders. It includes an indicator package, with 16 new indicators. The Forex correlation matrix allows you compare currency pairs in realtime.
Strongest currencies that perform against other currencies are marked green, while the weakest are marked red.
If you are hesitant about investing in a high-end indicator but want to test out a currency strengths meter, you can get a free Admirals Supreme Edition plugin for Currency Strong Meter 4 and 5.
Use the Live Currency Strength Meter to compare the performance of major currencies relative to others in real time. And to help you visualise it better, we’ve even colour coded the data to provide you with a clear overview of the live Forex market!
A currency correlation matrix can be used as a Forex indicator of strength.
This week there’s a range of important economic events that are worth watching. Pay close attention because these events are …
For example, EURGBP and GBPUSD may have a correlation between -91. This indicates they have an negative correlation. These pair are likely in opposite directions. Two long trades or two short trades on these pairs would likely cancel the other.
The Dollar is weak, here’s why. Anyone who has been checking the currency strength meter in the last week will …
A currency correlation matrix is an excellent tool for Forex strength indicators. It can be used to identify high-risk trades and eliminate double exposure.
Looking Ahead as Q1 Comes to a Close We’re into the final hours now of quarter one of 2020 and …
The GBP acts as the quote currency, meaning that traders expect the EUR to strengthen against GBP in long trades. In the second, the GBP serves as the base currency. This means that long-term trades will expect the GBP's strength against the USD. This means that a long EURGBP trading is one where the GBP is expected to weaken while a GBPUSD long trading is one where the GBP is expected to strengthen.
This table updates in real time and compares current currencies performance against each other with the quotes at the close of previous trading day. % indicates how currency performance changed against the one we compare it with previous day close up until this very moment.
Due to the high correlation between currency pairs, we can assume the GBP (the most strong currency in this case) is driving the movements.