How can currencies be analysed independently? | Forex Factory

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How can currencies be analysed independently?

  • #1
  • First Post: Mar 3, 2017 8:05am Mar 3, 2017 8:05am
Suppose we are analysing the charts for a currency pair XXX/YYY. Any movent on this chart is a result of one of three things:

  1. A change in the value of XXX
  2. A change in the value of YYY
  3. Both of the above

Now suppose that we are only interested in the way that the price of currency XXX is moving. Is there a way to do this? That is, is there any way to see a chart that shows only changes in the price of currency XXX?

  • #2
  • Mar 3, 2017 8:36am Mar 3, 2017 8:36am
to see it's value, you need to value it against something so i don't think this is possible
  • #3
  • Mar 3, 2017 9:13am Mar 3, 2017 9:13am
Maybe if i get this, you could achieve that by using their index like many people, where they using DXY as an indication of what happening to US dollar and the American Economy in general. I think almost all currencies have there own index. There are also a couple indicators for mt4 where you can have the pair and their index at the same chart. Of course your broker must include those index. If does not include those you can use free chart platforms like Tradingview, freestockcharts etc.
  • #4
  • Mar 3, 2017 9:13am Mar 3, 2017 9:13am
yes,atleast for the dollar you could look at the usd index.
100% KENYAN.
  • #5
  • Mar 3, 2017 9:18am Mar 3, 2017 9:18am
the dollar index is comprised of a basket of currencies so it isn't the same. It is basically an average against the basket
  • #6
  • Mar 3, 2017 10:32am Mar 3, 2017 10:32am
I use futures data to analyze one currency, gold, commodities, etc...

P.S. futures contracts has a HUGE impact on currency trading rate
  • #7
  • Mar 3, 2017 10:44am Mar 3, 2017 10:44am
Quoting TexasPipster
I use futures data to analyze one currency, gold, commodities, etc... P.S. futures contracts has a HUGE impact on currency trading rate
But futures prices are stated in relation to another currency (usually USD)?
  • #8
  • Mar 3, 2017 10:49am Mar 3, 2017 10:49am
Quoting Ponzi Jr
Suppose we are analysing the charts for a currency pair XXX/YYY. Any movent on this chart is a result of one of three things: A change in the value of XXX A change in the value of YYY Both of the above Now suppose that we are only interested in the way that the price of currency XXX is moving. Is there a way to do this? That is, is there any way to see a chart that shows only changes in the price of currency XXX?

You can do with the currency pair subsequently made into two currencies, for example currency pairs EURUSD, 1.12284,

1. For EUR: (100 * 1.12284) - ((100 * 1.12284) / (1+ (1 / 1.12284))) = 53.0128, and
2. For USD: 100 - ((100 * 1.12284) - ((100 * 1.12284) / (1+ (1 / 1.12284)))) = 46.9872
3. 53.0128 / 46.9872 = result 1.12284
4. 53.0128 + 46.9872 = 100.

B
Libenter homines id quod volunt credunt
  • #9
  • Mar 3, 2017 12:21pm Mar 3, 2017 12:21pm
Here is my work on this: stevehopwoodforex.com/phpBB3/viewtopic.php?f=16&t=4964

I do not know how to make it better. If you do know, please let me know.

It has MT4 EA and indicator, or just the formula, which can be interpreted by tradingview. I use the ladder. Please do not post there until you've read the whole thread, thought about it and tried to understand it yourself.
Pat
  • #10
  • Mar 3, 2017 1:56pm Mar 3, 2017 1:56pm
Quoting Ponzi Jr
{quote} But futures prices are stated in relation to another currency (usually USD)?
No futures contracts are bought and sold on individual currencies. And they all have a centralized market, unlike forex. Therefore you see true volume.
I believe think or swim has a feed, and ninjatrader 8
  • #11
  • Mar 6, 2017 5:47pm Mar 6, 2017 5:47pm
The Tom Yeoman currency meter has an option to draw a main line currency as a horizontal line and then all other currencies will cross over it as their strength goes up and down. It is not necessarily measuring price, and since it is a strength meter, it will likely be a late signal, but it is somewhat in the arena of what you are asking for.
You cannot be extraordinary by being normal
  • #12
  • Mar 6, 2017 5:59pm Mar 6, 2017 5:59pm
Just create a spread chart.

For example, gbp chart would be :

Gbpusd*gbpeur*gbpaud*gbpchf*gbpcad*gbpjpy*gbpnzd

You will have a chart mainly gbp driven, and you can analyze it.

Or, for usd:

Usdeur*usdgbp*usdcad*usdjpy*usdaud*usdnzd*usdchf

Etc.
  • #13
  • Mar 14, 2017 5:34am Mar 14, 2017 5:34am
Quoting tunera
Just create a spread chart. For example, gbp chart would be : Gbpusd*gbpeur*gbpaud*gbpchf*gbpcad*gbpjpy*gbpnzd You will have a chart mainly gbp driven, and you can analyze it. Or, for usd: Usdeur*usdgbp*usdcad*usdjpy*usdaud*usdnzd*usdchf Etc.
Nice !!!

Thanks for that
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #14
  • May 19, 2017 6:30am May 19, 2017 6:30am
Quoting tunera
Just create a spread chart. For example, gbp chart would be : Gbpusd*gbpeur*gbpaud*gbpchf*gbpcad*gbpjpy*gbpnzd You will have a chart mainly gbp driven, and you can analyze it. Or, for usd: Usdeur*usdgbp*usdcad*usdjpy*usdaud*usdnzd*usdchf Etc.
Hi tunera. May I ask you for an example please?
thanks.
Humble & Kalcker CLO2 = Covid killer
  • #15
  • May 19, 2017 9:16am May 19, 2017 9:16am
Have you considered basic math when you have the DXY or FXCM's Dollar index?

E.g., USD*AUDUSD = AUD or USD/USDJPY = JPY
  • #16
  • May 19, 2017 9:32am May 19, 2017 9:32am
Quoting jusiur
{quote} Hi tunera. May I ask you for an example please? thanks.
Eur example
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  • #17
  • Last Post: May 19, 2017 12:42pm May 19, 2017 12:42pm
Thank you
Humble & Kalcker CLO2 = Covid killer
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