Success in the markets with TradingView tools - work with currency pairs conveniently
On TradingView you can follow the USD to EUR index charts and build your own charts.
The relative strength of an instrument shows the strength of the instrument relative to other instruments.
For example, the strength of the euro is determined by its movement against the dollar, pound, yen. The strength of a stock is determined by its ratio to an index.
This information can be extremely useful for you. For example, you can open a long position in an instrument that is stronger with more confidence. A relatively strong instrument tends to move in your favor with only small pullbacks. This means that your trading setup will have a better chance of success.