how do i know the strong and weak currencies please?
You can check out a currency strength meter to see where a particular currency stands.
Nov 27 2020 at 11:24
Currency indexes are useful tools for measuring the strength of currencies.
But there is usually no objective answer to whether a currency is weak or strong, it's very relative as currencies are traded in pairs. Something worth considering is their liquidity. There are major, minor and exotic currency pairs; major and minor pairs are more liquid.
But there is usually no objective answer to whether a currency is weak or strong, it's very relative as currencies are traded in pairs. Something worth considering is their liquidity. There are major, minor and exotic currency pairs; major and minor pairs are more liquid.
Jul 04 2021 at 09:02
davidkew posted:
You can check out a currency strength meter to see where a particular currency stands.
Thanks for the advice.
Jul 09 2021 at 09:12
Currency strength meter is the best way to find currency strength.
Jul 27 2021 at 05:11
Currency strength meter is the best way to find currency strength.
A currency strength meter is always useful to look for the best pairs
A currency strength meter is always useful to look for the best pairs
mattieharper posted:
Currency strength meter is the best way to find currency strength.
A currency strength meter is always useful to look for the best pairs
Does it always work?
Every pair has its own specific characteristics. You have to find out your own trading edge. Only you know what you understand the most. Learning is a long term tadious process. Everyone has to go through it if they want to make consistent money in forex trading.
Each currency pair is different, and it is up to you to find what seems to be a strong pair or not. There are tools you could use such as the currency strength meter.
Which currency pair is currently the strongest and highly predictable for many traders?
Sep 01 2021 at 21:56
Many currency strengths meters give you a quick visual guide to which currencies are currently strong, and which ones are weak.
Sep 03 2021 at 08:48
SofieAndreasen posted:
Many currency strengths meters give you a quick visual guide to which currencies are currently strong, and which ones are weak.
Is it good to use currency strength meter?
It should be understood that with the right choice of the moment of exchange, the result can also be very interesting for a trader.
There are four main currencies, which are considered to be major ones. These are usd, jpy, gbp and eur. Actually, everyone knows about it and it doesn't matter whether you are a trader or not. I believe that if you consider trading only strong currencies, then you can pick all the pairs which include two of these currencies, for example, usd/jpy, gbp/eur and so on so forth. Anyway, you shouldn't trade only these currencies, because there are lots of other currencies whch sometimes can be strong. It dependson the current situation on the market.
It is worth analyzing and understanding how all this can affect the results of a trader's work.
With the right use and understanding of the process, you can make a really good profit.
The strength of a particular currency depends on numerous economic factors, but the quality of a currency's growth prospects is usually the most significant. Traders should have sound knowledge about the economic and political state of the country whose currency they are dealing with.
There are mainly three factors which determine the strength of the currencies:
1. Inflation: Higher inflation in a country means the national currency is losing its value.
2. Economic stability: If the government is economically stable and well established, it attracts more investors. More demand means more supply which also increases the value of the currency.
3. Interest rates: Higher interest rates also indicate high value of the currency.
1. Inflation: Higher inflation in a country means the national currency is losing its value.
2. Economic stability: If the government is economically stable and well established, it attracts more investors. More demand means more supply which also increases the value of the currency.
3. Interest rates: Higher interest rates also indicate high value of the currency.
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