CurrenlyzerCurrency Strength Meter: How to Read It
A currency strength meter ranks the major currencies from strongest to weakest at this moment. Right now CHF is the strongest and NZD the weakest of the eight majors.
Currency strength compares each currency with all the others at the same time instead of looking at one pair. Currenlyzer calculates it from the price moves of every pair that includes the currency, for several timeframes, and refreshes it every five minutes.
A currency strength meter answers a different question from a pair chart. A pair chart says whether EUR/USD went up. The meter says whether the euro or the dollar did the moving, because a pair moves when either currency changes.
Currency strength right now
Right now CHF is the strongest of the eight majors (score 20.4) and NZD the weakest (-78.8). The score compares each currency against every other one, so a currency can be strong against some and weak against others.
By timeframe
| Currency | H1 | H4 | Daily |
|---|---|---|---|
| CHF | -19.1 | 47.3 | 33.0 |
| JPY | -4.7 | 11.7 | 13.0 |
| USD | -20.3 | 13.4 | -16.2 |
| GBP | 38.6 | 2.0 | -72.0 |
| EUR | 1.2 | 23.2 | -68.0 |
| AUD | -5.8 | -52.1 | -134.0 |
| CAD | -45.6 | -94.3 | -87.0 |
| NZD | -42.2 | -53.6 | -140.6 |
Scores update every five minutes. The first column is the last hours, the last is the last days: a currency that is strong on H1 and weak on the daily chart is bouncing inside a bigger move.
How the strength is calculated
For every currency Currenlyzer takes the percentage change of all pairs that contain it on each timeframe (the last candles of H1, H4 and daily), signs the change by whether the currency is the base or the quote of the pair, and normalises it by the usual size of moves so that quiet and busy pairs count fairly. The scores of the pairs are combined into one score per currency and timeframe.
Reading the scores
A positive score means the currency gained against most of the others on that timeframe, a negative one that it lost. The size matters less than the order and the gap between the ends. If the same currency is strongest on all three timeframes, the move is broad; if the order differs, the market is mixed.
What it does not do
Strength describes what has happened. It does not predict what will happen, and it is not a signal to buy or sell. It is a way to see which currency is behind the move you see on a chart.
How to read the bars
A tall positive bar is a currency that has gained against most of the others on that timeframe, a tall negative bar one that has lost. The most useful reading is the gap between the strongest and the weakest, and whether the same currencies are at the ends on the hourly, four-hour and daily timeframes.
The common mistakes
Reading one timeframe only, forgetting that the ranking changes when the news arrives, and treating the ranking as a signal. It describes what the currencies have done, not what they will do. Our statistics are for information and are not advice.
How to check this in Currenlyzer
- Open the Currency Strength tool and choose the timeframes you use.
- Look at the order of the currencies and the gap between the ends, not at one number.
- Click a pair of the strongest and the weakest currency to open it in the analyzer and see how that hour usually behaves.
How we count
The numbers come from the live price feed of Currenlyzer: one-minute prices are built into hourly and daily candles, all in UTC. The range of a candle is its high minus its low. We use finished candles only, and we leave out hours when the market is closed and days that are too thin to count (the first hours of the Sunday open, short holiday days), so a closed hour is never averaged in as zero. Averages cover the last 30 days for the daily range and the last 60 days for hours, unless the text says otherwise. Pips follow the dashboard: one pip is 0.0001 on most pairs, 0.01 on yen pairs and 0.10 on gold. The same method is used in the dashboard.
Frequently asked questions
What is a currency strength meter?
A tool that ranks currencies from strongest to weakest by comparing each with all the others over the same period.
Which currency is the strongest now?
CHF is the strongest of the eight majors at this moment, and NZD the weakest. The page updates every five minutes.
Which timeframe should I use?
It depends on how long you hold. The table shows H1, H4 and daily.
Is currency strength a signal?
No. It describes recent movement and is not a recommendation to buy or sell.
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Historical statistics for information only. This is not investment advice and not a recommendation to buy or sell. Past patterns do not predict future moves. Trading leveraged products carries a high risk of loss. Read the full disclaimer.