If you google “currency strength meter”, it returns 8.3 million results - crazy.Īlmost none of them tells you the pitfall to avoid when using a currency strength meter. It helps you to identify the strongest/weakest currencies so you can pick the right currency pair to trade (more on this later).īut first, I want you to avoid these common mistakes traders make when using the currency strength meter… Do you make these mistakes when using a currency strength meter indicator? Well, that’s where a currency strength meter (aka forex strength meter) comes into play. You’re bullish on EURO but, you have the option to trade: EURUSD, EURJPY, EURGBP, EURAUD, EURNZD, EURCAD, etc. Now, one of the struggles of a Forex trader is you’ve got many currency pairs to choose from. What is a currency strength meter and how does it work?
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