<center>![](https://cdn.steemitimages.com/DQmePVUr6UNriCkiFMMEVmzxkPuQvDnwZLiUgauVvVJCWdc/image.png)</center>

The forex market or the spot market, sometimes known as forex (FX) or the foreign exchange (forex) market, is arguably the largest financial market in the entire world. It is the second largest traded global market after the New York Stock Exchange. 

In short, forex market, currency trading / fx trading is made up of four major currency: the U.S. dollar, the Japanese yen, the British pound, and the Euro. In order to trade in this market, you must know the basics of the forex market and how it works. This means that in order to trade one of these four currency pairs you need to have knowledge of each one of them.

In the forex exchange market you are not only exchanging one currency for another, but you are also selling a certain currency for another, with the exception of the euro and the US dollar which you are actually purchasing for each other. You are basically speculating on the value of one currency against another (base currency vs the quote currency), I call it the exchange rate. This is known as your "position" in the market.

Technical analysis on the other hand is an art and is what makes you a good trader. When you first start out in forex trading, your goal should be to learn how to identify trends (trends are created based on the direction of that country's interest rates, and when to enter and exit trades based on your charts. 
A good strategy or trading system  used by a forex trader is based on technical analysis. This is basically a mathematical formula that analyzes the past trends of a particular currency pair / forex pair and predicts its future trends, taking into consideration factors like price action, news, market depth, and trend length.

The most common indicators on a forex trading platform, within retail investor accounts are the MACD, or moving average convergence divergence. 

The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular.

And in the foreign exchange market 90% of forex trading involves the U.S. dollar. Thus, when assessing the relative strength of the most popular currencies in the world, it's always against the U.S. dollar, using the daily time frame chart.  Whether you are a day trader or a position trader, my metric below should help you along in your forex trading journey. 

The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are in parenthesis).

AUD/USD – Australia dollar (Aussie) vs. the U.S. dollar

![image.png](https://images.hive.blog/DQmS4DygUuajA7K9a3MSd1gx31h8x9sS4qmx5jVgFpj8Gtc/image.png)

EUR/USD – Euro vs. the U.S. dollar

![image.png](https://images.hive.blog/DQmXtbVcR2nEBbKFHhgZnBdnABqn1vkoMbvEx6niM41zMrW/image.png)

GBP/USD – British pound (Sterling or Cable) vs. the U.S. dollar

![image.png](https://images.hive.blog/DQmT1wkicvBmBgZG6h6RnJedBDKeZsne9iKMnGCYt5Pfvmu/image.png)

NZD/USD – New Zealand dollar (Kiwi) vs. the U.S. dollar

![image.png](https://images.hive.blog/DQmcYrjbQY2CctEdgx5Qt3ke3qwb7LmT3KARdFBPpDbQsBj/image.png)


USD/CAD – U.S. dollar vs. the Canadian dollar (Loonie)

![image.png](https://images.hive.blog/DQmY7wFf33HDg3HPuBWvRzzRVH5L1p9ZsjjMtUWws5Ns8Ew/image.png)


USD/CHF – U.S. dollar vs. the Swiss franc (Swissie)

![image.png](https://images.hive.blog/DQmViwqvEofTAqHK648pDSqWJ9RJ2MtHARurKaZe8G4CdGL/image.png)

USD/JPY – U.S. dollar vs. the Japanese yen (the Yen)

![image.png](https://images.hive.blog/DQmaDb5q4D5PqV4ivxZUjqJDMyyEVtjvUDRKzFxABgPjJ1W/image.png)

Based on the moving averages and the last daily closing price, relative to the moving averages,

<center>![](https://cdn.steemitimages.com/DQmRFDshGnfu3PE5Fk6taPnxiSEfApgKYHUDFVSrfaHKDKY/image.png)</center>

the currency relative strength relative to the US dollar is the following:


<center>![image.png](https://images.hive.blog/DQmZN6vbtb56ezqFNpaPKAPrffHy4gLTkauUC4rRFTEmxjX/image.png)</center>

Two Weeks Ago

<center>![image.png](https://images.hive.blog/DQmZN6vbtb56ezqFNpaPKAPrffHy4gLTkauUC4rRFTEmxjX/image.png)</center>


<p> <br />
<img src="https://images.hive.blog/DQmVsxUBNSEttko3J3d7LDXL9BWGYLXLXAs798Z1EPjeUdf/image.png" /><br />
 </p>
<p>LeoFinance is a blockchain-based social media community for Crypto &amp; Finance content creators. Our <a href="https://leofinance.io">tokenized app</a> allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.</p>
<table>
<thead>
<tr><th>Track Hive Data</th><th>New Interface!</th><th>About Us</th></tr>
</thead>
<tbody>
<tr><td><a href="https://hivestats.io" rel="nofollow noopener" title="This link will take you away from the app">Hivestats</a></td><td><a href="https://beta.leofinance.io">LeoFinance <sup>Beta</sup></a></td><td><a href="https://leopedia.io/explainer" rel="nofollow noopener" title="This link will take you away from the app">Learn More</a></td></tr>
<tr><td><img src="https://images.hive.blog/p/2bP4pJr4wVimqCWjYimXJe2cnCgnKZkJJp1Xyeqo6sG?format=match&amp;mode=fit&amp;width=640" /></td><td><img src="https://images.hive.blog/p/2bP4pJr4wVimqCWjYimXJe2cnCgnD9C3dvtz9dcr6kW?format=match&amp;mode=fit&amp;width=640" /></td><td><img src="https://images.hive.blog/p/2bP4pJr4wVimqCWjYimXJe2cnCgnJ5ZGat1CcR1ZWzi?format=match&amp;mode=fit&amp;width=640" /></td></tr>
</tbody>
</table>
<table>
<thead>
<tr><th>Trade Hive Tokens</th><th>Twitter</th><th>Hive  Witness</th></tr>
</thead>
<tbody>
<tr><td><a href="https://leodex.io" rel="nofollow noopener" title="This link will take you away from the app">LeoDex</a></td><td><a href="https://twitter.com/financeleo" rel="nofollow noopener" title="This link will take you away from the app">@financeleo</a></td><td><a href="https://hivesigner.com/sign/account-witness-vote?witness=leofinance&amp;approve=1" rel="nofollow noopener" title="This link will take you away from the app">Vote</a></td></tr>
<tr><td><img src="https://images.hive.blog/640x0/https://i.imgur.com/HZrtczc.png" /></td><td><img src="https://images.hive.blog/p/2bP4pJr4wVimqCWjYimXJe2cnCgnBwCBGD8LgBkLqVg?format=match&amp;mode=fit&amp;width=640" /></td><td><img src="https://images.hive.blog/p/2bP4pJr4wVimqCWjYimXJe2cnCgnBwCBGD8LgBkLqVg?format=match&amp;mode=fit&amp;width=640" /></td></tr>
</tbody>
</table>
<p><center><sub><strong>Follow <a href="/@leofinance">@leofinance</a> for official updates</strong></sub></center></p>
<hr />


Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/hive-167922/@rollandthomas/forex-relative-strength-analysis-report-for-week-starting-1-10-21)