FxWirePro launches Currency Strength Index for Global FX Brokers

FxWirePro Currency Strength Index.

Sunday, November 13, 2016 5:41 PM UTC

FxWirePro, the official FX news and analysis service of MetaQuotes, Spotware and Currenex, has announced its launch of Currency Strength Index, which tracks the performance of the underlying currency versus a basket of leading global currencies in real-time. The strength of each Currency Index is calculated by using a proprietary algorithm which assigns weights by taking appropriate volumes into consideration with respect to others to get the overall Index strength. The Currency Strength Index is currently provided through APIs during trading sessions.

Currently available are the following Indices: USD Index, EUR Index, GBP Index, JPY Index, NZD Index, AUD Index, CHF Index and CAD Index.

How traders can use the Currency Strength Index for trading?

For example, the currency strength Index of various pairs at 7 GMT (Sep 23rd 2016) shows:

USD -107.14 (Highly bearish) (above -100)
EUR17.97
GBP -83.9758 (slightly bearish) (above -75)
AUD163.23 (Highly bullish) (above 100)
NZD 112.95 (Highly bearish) (above -100)
CAD 86.11 (slightly bullish)
CHF 90.12 (slightly bullish)
JPY 109.33 (Highly bullish) (above 100)

Traders can go:

Long on AUD and short on USD. (Buy AUD/USD)
Long on AUD and short on NZD (Buy AUD/NZD)
Long on JPY and short on USD (Sell USD/JPY)
Long on CAD and short on GBP (Sell GBP/CAD (slightly bearish)

About FxWirePro

FxWirePro is a comprehensive newswire service for investors and traders that covers all the news affecting the currency markets in a truly trader friendly format - succinct and to the point.

FxWirePro is the only newswire service dedicated to FX Trader and is short and concise allowing traders to grasp the full news in the shortest possible time. Each analysis item is carefully pre-selected for publication into the newswire to ensure its relevancy for the FX Trader.

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FxWirePro launches Currency Strength Index for Global FX Brokers

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