Currency Strength Meter
Determining the relative strength of a currency pair is an important part of succeeding in the forex market. That’s why we recommend you use our Currency Strength Meter. Compare the Japanese yen, US dollar, British pound, Canadian dollar, Swiss franc, and much more in real-time!
How to use Currency Strength Meter?
What Is A Currency Strength Meter?
A live currency strength meter calculates how one foreign exchange currency performs against other currencies. So, how does the currency strength meter work? It evaluates how different foreign currency pairs are performing individually. Then, the Currency Strength Meter combines these readings to quantify the relative strength of an individual currency and related FX pairs.
The currency strength indicator furnishes forex traders with the ability to quickly view stronger and weaker currency pairs at a glance. Strong currency pairs are color-coded green; weak currency pairs are shaded red.
Evaluate Forex Pairs On Your Terms!
One exciting feature of our Currency Strength Meter is that it's fully customizable. Whether you are trading exotic, minor, or major currencies, the meter's functionality allows for rapid integration. Simply drag your base currency and counter-currency into the table — the Currency Strength Meter does the rest!
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FAQs
There are hundreds of trading tools local to the financial markets. Here are a few of the most frequently asked questions regarding the Currency Strength Meter.
What Is Currency Strength?
A currency's strength is the value of one money relative to another. In forex trading, currencies are traded in pairs, each with a base currency and counter currency.
For instance, in the EUR/USD, the EUR is the base currency, and the USD is the counter currency. Thus, we are comparing the relative strength of the EUR to the USD. If the EUR/USD rises, the EUR is strengthening against the USD; if it falls, the EUR is weakening. Our strength meter is designed to measure currency strength for you — no charts or tote boards are required.
I'm A Fundamental Trader. Why Should I Use The Currency Strength Indicator?
No matter what type of trader you are, our Currency Strength Meter provides a clear look at which currencies are strong and weak. At a glance, you can see which FX pairs are on the move and which aren't. This information is an excellent complement to any fundamental strategy.
Which Forex Currency Pairs Are Available On The Strength Meter?
All of your favorite major, minor, and cross pairs are listed on the currency strength meter. Don't forget; it's fully customizable. You are free to build the meter to any specifications that you see fit.
Are Currency Strength Indicators Reliable?
Yes. Currency strength indicators give us a clear look at how a currency and related FX pairs are performing. Of course, all trading decisions should adhere to disciplined risk management guidelines.
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