With the number of tools available in the market, you would understand why traders lose money. ![]() What is crazier is that none of these results talks about mistakes a trade might get involved when using a currency strength meter. Today, if you decide to search for “ currency strength meter,” it will return over 7.7 million results, which is quite crazy. Common mistakes when using a live currency Strength Meter They use the exchange rates of different currencies to generate aggregate and equal strength of each currency pair.įor instance, to calculate the strength of the EURO, the currency strength meter might calculate the strength of all pairs that contain the EURO (EURCAD, EURAUD, EURJPY, EURGBP, and EURUSD) and combine these calculations before producing the result for the EURO. What is the fuss about a currency strength meter? A currency strength meter is like a gauge that displays which currencies pair is weak or strong.
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