The "Overview" screen under the Watchlist Overview tab displays a list of all the currency pairs contained in a selected watchlist.
A summary of current price movements for each currency pair is provided allowing us to quickly see:
A summary of current price movements for each currency pair is provided allowing us to quickly see:
- Whether a currency pair moved up or down. Also known as "absolute performance".
- How strong the move was compared to other currency pairs within the watchlist. Also known as a "relative performance" (see info box below).
Relative performance can be used to compare two (or more) currency pairs within the same watchlist. This comparison examines the relative price performance of two currency pairs and can help you decide which one out of the two you should go long (or short). For example, if you want to go long the euro, which currency pair should you trade? EUR/USD? EUR/GBP? EUR/JPY? Knowing the relative performance of multiple euro currency pairs will allow you to see which currency the euro is strongest against. Rather than have to flip through a price chart to view each euro pair one by one, you can see it all a glance with this tool.