Currency Power Balance
The Currency Power Balance tool compares the relative strength of currencies at different points in time. Displaying eight major currencies, it lets you switch between various time periods to see short and long-term data.
The Currency Power Balance tool identifies market leaders and laggards by calculating a relative performance index for eight major currencies: USD, EUR, GBP, JPY, CAD, CHF, AUD, and NZD.
Using the latest available mid-prices, the tool assigns a 'power' value to each currency. A higher value indicates a stronger currency relative to the other seven in the basket. By plotting these values on a single chart, you can instantly identify which currencies are gaining momentum and which are retreating across the entire market.
Take control of your analysis:
The chart is interactive. With a simple click you can customize your view by selecting or deselecting specific currencies in the legend below the chart. This allows you to focus exclusively on the currencies that matter to your trading strategy.
Timeframes
The following chart allows you to compare time periods with different data granularity.
| Time frame | Granularity |
|---|---|
| Current trading day | 5 minutes |
| Previous trading day | 5 minutes |
| Last 4 hours | 1 minute |
| Last 8 hours | 5 minutes |
| Last 24 hours | 5 minutes |
| Last week | 1 hour |
| Last month | 4 hours |
| Last 3 months | 4 hours |
Understanding our timeframes:
To align with global forex market sessions, daily timeframes are calculated relative to the New York market close (5:00 PM ET).
- Current trading day: Covers the period from the start of the active trading session—5:00 PM ET on the previous trading day, or Sunday market open—to the present hour.
- Previous trading day: Covers the 24-hour period from the market close (5:00 PM ET) two trading days prior to the market close (5:00 PM ET) of the previous trading day.
Note: All chart timestamps are displayed in UTC. During weekend non-trading hours, charts display data from the most recently completed trading session.
Data sources: Proprietary OANDA mid-market pricing. Calculations are based on the latest completed market candles, with update frequency and data detail automatically adjusting to your selected timeframe.
Disclaimer: This insight is for general information purposes only, not to be considered a recommendation or financial advice. Past performance is not indicative of future results. Forex trading is high-risk. Losses may exceed deposits.
