Currency Strength Dashboard

Analyze individual currency strengths to identify the best trading opportunities. This dashboard focuses on the relative strength of individual currencies rather than currency pairs, allowing you to buy strong currencies against weak ones for optimal trading setups.

Select Timeframe:

M15 H1 H4 D1 W1

Currency Strength Ranking (M15)

How to use: This chart ranks currencies from strongest to weakest over the selected timeframe. Colors follow the value, not the rank: green above +0.3, red below −0.3, grey in between — so on a quiet day even the top currency can sit in grey. The scale is absolute: 1.00 means an ATR-sized move against the rest of the board over the window (about one and a half standard deviations of daily returns, well above a median day), and values near zero mean little happened. For directional trades, consider pairing the strongest currencies against the weakest ones.

Data updated: 23 Oct 2026, 23:25 UTC · recalculated every hour on market days.

Currency

Strength

Momentum

AUD

0.34

-0.48

EUR

0.29

0.16

JPY

0.24

0.92

NZD

0.06

-0.80

USD

-0.19

-0.70

CHF

-0.19

0.89

GBP

-0.21

CAD

-0.34

0.23

Currency Correlations

Each value is the correlation between two currency indices over the last 30 closed sessions (14 September 2026 to 23 October 2026): a currency's daily index move is its average change against the other seven, taken from the closing prices of the 28 pairs. The eight indices add up to zero by construction, so the typical off-diagonal reading is mildly negative (about −0.14 when the currencies move by similar amounts) and a clearly positive value means the two currencies shared a driver in this window; a strongly negative one means they traded as opposites.

	USD	EUR	GBP	JPY	AUD	CAD	CHF	NZD
USD	1.00	-0.19	-0.38	-0.04	-0.08	0.25	-0.12	-0.57
EUR	-0.19	1.00	0.56	-0.26	-0.41	-0.13	-0.20	0.30
GBP	-0.38	0.56	1.00	-0.22	-0.35	-0.22	-0.03	0.17
JPY	-0.04	-0.26	-0.22	1.00	-0.23	-0.17	-0.13	-0.31
AUD	-0.08	-0.41	-0.35	-0.23	1.00	-0.20	-0.40	0.24
CAD	0.25	-0.13	-0.22	-0.17	-0.20	1.00	0.05	-0.34
CHF	-0.12	-0.20	-0.03	-0.13	-0.40	0.05	1.00	-0.30
NZD	-0.57	0.30	0.17	-0.31	0.24	-0.34	-0.30	1.00

Retail Positioning by Currency

How retail traders are positioned on each currency, long and short, averaged across its 7 pairs · refreshed every 3 hours on weekdays · updated 23 Oct, 21:00 UTC

EUReuro75% long25% shortExtreme7d+1430d+237

The 7 pairs behind EUR’s 75% · what each counts for EUR

EUR/CAD83% longcounts 83 EUR is the base

EUR/GBP83% longcounts 83 EUR is the base

EUR/AUD79% longcounts 79 EUR is the base

EUR/USD77% longcounts 77 EUR is the base

EUR/CHF72% longcounts 72 EUR is the base

EUR/NZD65% longcounts 65 EUR is the base

EUR/JPY63% longcounts 63 EUR is the base

(83 + 83 + 79 + 77 + 72 + 65 + 63) ÷ 7 = 75% long EUR

NZDNew Zealand dollar63% long37% shortCrowded7d−430d−107

The 7 pairs behind NZD’s 63% · what each counts for NZD

NZD/CAD76% longcounts 76 NZD is the base

NZD/JPY76% longcounts 76 NZD is the base

AUD/NZD27% longcounts 73 NZD is the quote: 100 − 27

NZD/USD66% longcounts 66 NZD is the base

NZD/CHF61% longcounts 61 NZD is the base

GBP/NZD44% longcounts 56 NZD is the quote: 100 − 44

EUR/NZD65% longcounts 35 NZD is the quote: 100 − 65

(76 + 76 + 73 + 66 + 61 + 56 + 35) ÷ 7 = 63% long NZD

CHFSwiss franc51% long49% shortBalanced7d+1130d+27

The 7 pairs behind CHF’s 51% · what each counts for CHF

AUD/CHF27% longcounts 73 CHF is the quote: 100 − 27

CHF/JPY65% longcounts 65 CHF is the base

GBP/CHF42% longcounts 58 CHF is the quote: 100 − 42

CAD/CHF51% longcounts 49 CHF is the quote: 100 − 51

USD/CHF55% longcounts 45 CHF is the quote: 100 − 55

NZD/CHF61% longcounts 39 CHF is the quote: 100 − 61

EUR/CHF72% longcounts 28 CHF is the quote: 100 − 72

(73 + 65 + 58 + 49 + 45 + 39 + 28) ÷ 7 = 51% long CHF

USDUS dollar51% short49% longBalanced7d+630d+197

The 7 pairs behind USD’s 49% · what each counts for USD

USD/JPY66% longcounts 66 USD is the base

GBP/USD38% longcounts 62 USD is the quote: 100 − 38

AUD/USD44% longcounts 56 USD is the quote: 100 − 44

USD/CHF55% longcounts 55 USD is the base

USD/CAD47% longcounts 47 USD is the base

NZD/USD66% longcounts 34 USD is the quote: 100 − 66

EUR/USD77% longcounts 23 USD is the quote: 100 − 77

(66 + 62 + 56 + 55 + 47 + 34 + 23) ÷ 7 = 49% long USD

GBPBritish pound53% short47% longBalanced7d+1030d−147

The 7 pairs behind GBP’s 47% · what each counts for GBP

GBP/CAD67% longcounts 67 GBP is the base

GBP/JPY63% longcounts 63 GBP is the base

GBP/AUD57% longcounts 57 GBP is the base

GBP/NZD44% longcounts 44 GBP is the base

GBP/CHF42% longcounts 42 GBP is the base

GBP/USD38% longcounts 38 GBP is the base

EUR/GBP83% longcounts 17 GBP is the quote: 100 − 83

(67 + 63 + 57 + 44 + 42 + 38 + 17) ÷ 7 = 47% long GBP

CADCanadian dollar56% short44% longBalanced7d−1030d−87

The 7 pairs behind CAD’s 44% · what each counts for CAD

CAD/JPY65% longcounts 65 CAD is the base

AUD/CAD37% longcounts 63 CAD is the quote: 100 − 37

USD/CAD47% longcounts 53 CAD is the quote: 100 − 47

CAD/CHF51% longcounts 51 CAD is the base

GBP/CAD67% longcounts 33 CAD is the quote: 100 − 67

NZD/CAD76% longcounts 24 CAD is the quote: 100 − 76

EUR/CAD83% longcounts 17 CAD is the quote: 100 − 83

(65 + 63 + 53 + 51 + 33 + 24 + 17) ÷ 7 = 44% long CAD

AUDAustralian dollar64% short36% longCrowded7d−2130d−47

The 7 pairs behind AUD’s 36% · what each counts for AUD

AUD/JPY51% longcounts 51 AUD is the base

AUD/USD44% longcounts 44 AUD is the base

GBP/AUD57% longcounts 43 AUD is the quote: 100 − 57

AUD/CAD37% longcounts 37 AUD is the base

AUD/CHF27% longcounts 27 AUD is the base

AUD/NZD27% longcounts 27 AUD is the base

EUR/AUD79% longcounts 21 AUD is the quote: 100 − 79

(51 + 44 + 43 + 37 + 27 + 27 + 21) ÷ 7 = 36% long AUD

JPYJapanese yen64% short36% longCrowded7d−630d−77

The 7 pairs behind JPY’s 36% · what each counts for JPY

AUD/JPY51% longcounts 49 JPY is the quote: 100 − 51

EUR/JPY63% longcounts 37 JPY is the quote: 100 − 63

GBP/JPY63% longcounts 37 JPY is the quote: 100 − 63

CAD/JPY65% longcounts 35 JPY is the quote: 100 − 65

CHF/JPY65% longcounts 35 JPY is the quote: 100 − 65

USD/JPY66% longcounts 34 JPY is the quote: 100 − 66

NZD/JPY76% longcounts 24 JPY is the quote: 100 − 76

(49 + 37 + 37 + 35 + 35 + 34 + 24) ÷ 7 = 36% long JPY

Balanced under 60% on either sideCrowded from 60%Extreme from 75%

An average of 7 pairs compresses: a currency can sit near 50% with two of its pairs at opposite extremes, which is why each row opens on the pairs behind it. As everywhere on this site, positioning is read against the crowd: under 60% it carries no weight in our signals, from 60% it starts to count, from 75% it reads as extreme. The 8 currencies are ranked from the most bought to the most sold by retail; gold is not a currency and stays out. By construction the 8 figures average 50%: retail cannot be net long every currency at once.

Best Trading Opportunities

Trading strategy: These opportunities pair the currencies that clear the strength gate on this timeframe (at or above +0.30) against those below −0.30 — the same threshold the heatmap uses, so a currency labelled Strong here is never one the legend calls Neutral. The strength differential indicates how significant the strength disparity is (higher is better). Pairs with signals show the bias and confidence from our multi-factor analysis. For optimal trading, look for pairs with both a high strength differential and a confirming signal.

AUDCAD

BUY

Strength Differential:

0.68

Projection: 0.33

Strong:

AUD

0.34

Weak:

CAD

-0.34

Signal:

Bullish (Low)

Confirms Strength

View Detailed Analysis

Trading Strategy Guidance

Currency Strength-Based Strategy

Based on the current strength analysis for the M15 timeframe, here are strategic recommendations:

Current Market Condition:

Ranging Market

1 strong (≥+0.3) · 1 weak (≤−0.3) · leaders avg +0.34 on M15

Low Directional Bias - Ranging Market

Current currency strength analysis shows minimal differentiation between currencies, suggesting a ranging market environment that may require different trading approaches.

Range Trading: Focus on trading established ranges with support and resistance levels as key reference points.
Avoid Trend-Following: Trend-following strategies may underperform in this environment due to frequent reversals.
Shorter Timeframes: Consider shorter-term trading approaches with tighter stop losses and more modest profit targets.
Mean-Reversion: Look for opportunities to use mean-reversion strategies when currencies reach extremes within their established ranges.

Portfolio Diversification Advice

Based on currency correlations, consider these guidelines for building a diversified forex portfolio:

Highest Co-Movement Right Now

Over the last 30 sessions these currencies moved together the most:

EUR & GBP (+0.56)
EUR & NZD (+0.30)
USD & CAD (+0.25)

Trading several pairs that share these currencies stacks overlapping exposure rather than diversifying it.

Most Opposed Right Now

These currencies moved against each other the most over the same window:

USD & NZD (-0.57)
EUR & AUD (-0.41)
AUD & CHF (-0.40)

Pairs built on opposed currencies tend to balance each other — useful when sizing a book. On a basket of eight most currencies read mildly negative against each other by construction, so only the strongest opposites are listed.

Optimal Portfolio Structure

For a balanced forex portfolio in the current market environment, consider:

Limit exposure to any single currency to no more than 30% of your portfolio
Include at least 2-3 different currency pairs with low correlation to each other
Focus position sizing on the opportunities with the highest strength differential
Ensure trades align with the overall market condition (trending vs. ranging)

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Background reading

From our blog, on what this page measures.

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