Today in currency trading the forex major pairs all moved based on USD (US Dollar) strength. This created excellent short term buy and sell opportunities on some of these pairs. In the main forex trading session the USD was strong across the board, and pairs like the USD/CHF moved up and the EUR/USD moved down based on the USD strength. From a support and resistance analysis, these two pairs are range bound, so we would consider scaling out lots and taking some profit, as we consider these to be short term or intraday trades. The live currency strength indicator you see below is The Forex Heatmap®. It give live buy and sell signals on the forex major pairs, plus pairs from eight other currency groups.
The forex major pairs are currency pairs that have the USD on the left or right, the base or cross currency. You can see in the heatmap image above that we trade seven major pairs total. The USD pairs are most popular forex pairs. They are also the most liquid and heavily traded, they have the highest trading volumes and liquidity. The is a valuable tool in that the signals you see are live and any forex trader can learn how forex big data can be utilized for successful trade entries, day after day.
USD strength can be easily detected with this great live indicator. In the example above the pairs with the USD on the left are all green, and the pairs with the USD on the right are all red, indicating that the USD is strong. The heatmap works the same way for other currencies, for example if the EUR (Euro) is strong all of the indicators will be green because the EUR is the base currency on all pairs.