By using a Forex strength meter, traders can quickly identify which currencies are strong or weak, allowing them to make more informed trading decisions. The strength of a currency is determined by analyzing various factors, such as economic data, interest rates, geopolitical events, and market sentiment. It ranks currencies on a scale from 0 to 10, with 0 indicating the weakest and 10 indicating the strongest. A Forex strength meter is a visual tool that displays the strength of different currencies in real-time. Before we dive into its application, it’s important to understand what a Forex strength meter actually is.
