Currency correlation happens when the price of two or more currency pairs moves in conjunction with one another. There can be both positive correlation, where the price of the currency pairs moves in the same direction and negative correlation, where the price of the currency pairs moves in opposite directions.

As a Forex trader you will need to determine this correlation and how is its degree? this will be very useful at trading as we will review in the following.

This indicator depends in its calculations on Pearson's correlation coefficient

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