See also
The euro currency index reflects average fluctuations of the world’s five major currencies (USD, GBP, JPY, CHF, and SEK) to the euro. The euro currency index, or EURX, was established in January 13, 2006, and is quoted on NYBOT. The index represents a benchmark for the euro value calculation against other participants of the financial markets.
EURx = 34.38805726*EURUSD^(0,3155)*EURGBP^(0.3056)*EUR/JPY^(0.1891)*EURCHF^(0.1113)*EURSEK^(0.0785)
EURindex computer indicator shows the price changes in the euro currency index, which are entailed by price fluctuations in other major currency pairs on Forex.
From practical point of view, there are two ways of using the index for trading EUR/USD and other currency market instruments on Metatrader. The first one is associated with crossovers, and the second one is based on divergence.
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