Monday, May 20, 2019

FXCM JPY Currency Basket

FXCM recently launched a couple of new currency basket / indices. They now have a "JPYBasket"  (JPY currency basket) and "EMBasket" (Emerging Market currency basket).

Here's a quick comparison of he JPYBasket with my Currency Strength Indicator (JPY Index).

The absolute value of the index or basket is not so important (it is just scaled from some arbitrary reference) - it's the shape of the index that is relevant. The Currency Strength Indicator can only show the line value (not candle). However, the Currency Strength Indicator can generate baskets for all major base currencies (USD, EUR, GBP, JPY, AUD, CAD, NZD and CHF).

More information on the Currency Strength indicators can be found here.