Live forex heat map
Live forex heat map by TradingView. Each cell shows how one currency is moving against another, in real time.
How to read the currency strength meter
Each bar is a currency's average move against the other eight over the period you choose. A score of +0.80% means that, on average, the currency gained roughly 0.80% against the rest; a negative score means it lost ground. The top of the list is the strongest currency, the bottom the weakest.
The line under the bars names the pair with the biggest gap between the strongest and the weakest currency, and how far it moved. A currency that has gained against most of the others shows broad strength; one that has gained against only one may simply reflect that currency's weakness.
How currency strength is calculated
Strength = average % change of the currency against each of the other currencies
For every pair of currencies the meter works out how far one moved against the other between the two dates, then averages each currency's moves. Moves are measured as log changes, so EURUSD's move is the exact opposite of USDEUR's and the scores add up to zero; for moves of a few per cent, a log change is almost the same as a % change. The rates are the European Central Bank's euro reference rates, published once each working day at around 16:00 Central European Time, cross-converted through the dollar and served by Frankfurter, a free open-source rates service.
Why the rupee is in the meter
Most strength meters show only the eight majors. We add the Indian rupee because many readers are paid in dollars or hedge USDINR on NSE, and because rupee weakness changes what a dollar profit is worth in India. Rupee pairs on NSE are meant for hedging a real exposure; see which brokers offer currency trading.
How traders use currency strength
- Pair strong against weak. If GBP is near the top and JPY near the bottom, GBPJPY is the pair that has moved most in GBP's favour over that period. Two currencies in the middle of the table have moved little against each other.
- Confirm on the chart. Strength tells you what has happened, not what will happen. Check the trend and your levels on the pair itself before you enter.
- Watch the calendar. A central bank decision or a jobs report can move a currency sharply within minutes, and the next day's meter can look very different; see the forex calendar.
- Mind related currencies. AUD and NZD often move together, as do EUR and CHF, so buying one strong pair and selling another can be the same trade twice.
- Size from the stop. A strong trend doesn't make a bigger position safe. Use the lot size calculator.
Currency strength and gold
Gold is priced in dollars, so a weak dollar often goes with a stronger gold price, and a strong dollar with a weaker one. It's a tendency, not a rule: in a crisis both can rise together. If USD sits at the bottom of the meter, check the XAUUSD live chart as well.
Limits of a daily meter
The bars use one reference rate per working day, so they don't change during the day and there's no update at weekends or on TARGET closing days (1 January, Good Friday, Easter Monday, 1 May, 25 and 26 December). That makes the meter better for the bigger picture over a week or a month than for intraday entries; for those, use the live heat map above.