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 customise 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 business day | 5 minutes |
| Previous business 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 financial markets, “Business Days” are calculated based on the New York market close (5pm NY time).
Current Business Day: Covers the period from the New York market close of the previous trading day to the present hour.
Previous Business Day: Covers the full 24-hour cycle between the market closes of the prior two consecutive trading days.
Note: All timestamps and charts are displayed in UTC.
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.
