How useful is a currency strength meter?

Looking at specific currency groups is a better way to analyze currency strength imo.

You can do this in MarketMilk.

The easiest way to do this is to first look at the major pairs since USD sets the tone for the FX market.

You can see the watchlist of the Majors here:

The “Change Comparison” shows price strength.

You can normalize the base currencies by switching it from “Standard” to “Normalize”.

From there, you can see what the weakest currency against the USD is.

Let’s say it’s GBP.

Now all you have to do is switch the watchlist to “GBP Pairs

From there, you can find the weakest GBP pair.

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