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Currency Strength Index
Our advanced Currency Strength Index "CCYX" disassembles every pair and isolates the individual currencies to show you the strength and/or weakness of each major currency in relation to the others. This allows you to track the pairs which have the greatest momentum and potential, so you can focus on the best situations and ultimately place trades where both currencies are moving in the desired direction of your trade. The TradingFX CCYX is an enhanced decision-making tool which should be used to hunt for better trading opportunities and confirm the chart patterns and trends. The consolidated bird's eye view can give you a serious advantage against the market and other traders.
Our modified US Dollar Index "USDX" is another excellent tool to give you a real trading advantage. The original Dollar Index was implemented March 1973 and represents a significant milestone in foreign exchange history when the world’s major trading nations allowed their currencies to float freely against each other. The world was a different place in 1973 and the fractions of each of the currencies used is not as pertinent to today's world economy. We have taken a more realistic and modern approach at how the index is calculated, and made it more sensitive to the currency price movements experienced now. The TradingFX USDX can be used to get a better feel of the US Dollar's strength or weakness against the other currencies, providing a benefit to traders.