Scalping Forex Market Using The Currency Strength Meter
The Currency Strength Meter
This is a simple currency strength meter which can be used to see currency strength or weaknessâ€”the way of using this tool is determining what is moving the market. Often when we see a currency pair moving, and being a pair, it is sometimes hard to determine which one is moving the market.
Scalping Forex Market
Scalping Forex using Currency Strength meter is a short term and profitable trading strategy. When we see GBPUSD going up, we donâ€™t know if it is a GBP strength or USD weakness. If USD is weak, then you should also see EURUSD going up. If GBP is strong, then you should also see EURGBP going down.
But having the strength meter will save you so much time, because you can just look at the strength and know what is going on. It can also be combined with other indicators for both technical and fundamental trading.
Our currency strength meter gives you a quick visual guide to which currencies are currently strong, and which ones are weak. The meter measures the strength of all forex cross pairs and applies calculations on them to determine the overall strength for each individual currency. Please see notes below for further details.