Tradinggrouptw

JAN 16 DAILY CURRENCY STRENGTH (PRE-ASIAN OPENING)

FX:EURUSD   Euro / U.S. Dollar
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- One of the biggest reasons 98 % of traders lose money in forex is because they don’t know what currencies are strong respective weak. Knowing the strength of a currency will dramatically help you on the way to become a world class trader, you will never look at the market the same way once you have fully understood the importance of currency strength.

This is a universal application, meaning that it doesn’t matter what approach or strategy you have to the market, it simply shows you the best pairs to trade so that you can apply your strategy accordingly.

Note: The strength is updated by professional traders for most accuracy and not by computerised scripts.

Full Description

Daily Currency Strength gives you a great indication of what pairs to buy respective sell for the day.
The strength ranges from -7 to +7 since there are 7 major pairs.

+7 is considered to be the strongest
-7 is considered to be the weakest

You want to combine the strongest against the weakest currencies, example;
if EUR is +6 and USD is -4, we are then looking for opportunities to go long on the EUR/USD .


http://www.tradingwhales.com
Excellent Carl, thanks!

People, this is seriously one of the best filters you can apply to your technical setups.

Don't overlook it!
+5 Reply
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