In this video we explain the importance of understanding where the three major currencies are heading, whether intraday or on a longer term basis.
The three main currencies are of course the US dollar, the Japanese yen and the single currency of the euro. The Quantum Trading suite of tools and indicators delivers an index for all three, and using the tab feature of NinjaTrader 8 offers a compact and efficient way to monitor these key currencies in all timeframes, whilst optimising space on the screen. This allows you as a forex trader to track these currencies, and from there have a much clearer view of where each is heading which will then be reflected in the major currency complex or the cross currency complex accordingly.
The US dollar, the Japanese yen and the euro are three currencies which drive the forex market universally, and having this clear view is paramount to then understanding where the currency pairs themselves are heading individually.