For example, if you have ten dollar amounts that you want to convert to euros, you would enter each dollar value in a cell from D2 through D This simple spreadsheet it will make you feel like a parallel and inverse analysis veteran and you will know whether the individual currencies in the market are strong weak, or mixed. Doing so will download Kutools to your computer, though you may need to click Save or choose a download location depending on your browser.
Fill Out The Forex Market Analysis Spreadsheet
Open a web browser and type currency converter into the address bar, then select the currencies you want to compare in the drop-down boxes at the top of the search engine's results. This will give you the current conversion rate. For example, if you wanted to see the conversion rate for US dollars to euros, you would select Dollars for the top box and Euros for the bottom box.
It's a green app with a white "X" on it. You'll find this option in the upper-left side of the window. On Mac, click the New tab and then click Blank Workbook. Create a chart with your currency conversion information. Type the first currency's name into A1 e. Type the first currency's value into B1. This value should be "1". Type the second currency's name into A2 e. Type the conversion rate into B2. Type your starting currency's name into D1. For example, if you're converting dollars to euros, you would type "Dollars" into the D1 cell.
Type the currency values you wish to convert into the "D" column. For example, if you have ten dollar amounts that you want to convert to euros, you would enter each dollar value in a cell from D2 through D Type the conversion currency's name into E1.
To use the previous example, you might type "Euros" here. This will display the converted equivalent of your starting currency in cell E2 , which is directly to the right of the starting currency equivalent.
Apply the formula to the rest of the second currency's column. Click E2 again to select it, then double-click the little green square that appears in the bottom-right corner of the E2 cell.
Your second currency's column will fill up with conversions of the currency values from the starting currency column.
Go to the Kutools download page. Kutools is only available for Windows. Click Free Download Now. It's a link in the middle of the page. The spreadsheet file will automatically download to your Google Drive or hard drive, your choice. The spreadsheet file will automatically open in the Google Sheets program. If you do not have Google Sheets, but you have a google or gmail account you are ready to download the spreadsheet with Google Sheets, if not go to Google.
Google Drive allows free cloud storage for anyone with a Google account, as well as access to Google Sheets and other cloud based programs. To fill out the spreadsheet, print a hard copy, then arrange the 28 currency pairs in the order of listed on the sheet. Once you have all 28 pairs set up you can open up the spreadsheet with Microsoft excel.
The first time you open the document you will have to enable Macros. You are now going to list the trend direction on the H4, D1, and W1 time frames for each currency pair.
Under each time frame you will be given 3 simple options:. Once you fill out the 3 time frames for each currency pair, then look at the graphs on the right and see if they match up with the examples. If they completely line up on a specific time frame, then it represents the individual currency is completely strong or completely weak and trending on that specific time frame. That would encourage you to do a more thorough analysis on that currency to see if what pairs can be part of your daily trading plans.
Then continue this process for 28 pairs. We also fill out the sheet in our live webinars on Monday night USA time, for additional practice. The forex market analysis spreadsheet is broken into 2 areas. The first area on the left is a list of 28 pairs with the 3 major time frames listed. There are drop down boxes in each time frame that allow you to identify and fill in the trends.
A general rule of thumb for most traders is to explore the technical analysis in a longer term timeframe first before drilling down to the shorter term timeframe. This is important to the traders as it ensures that the short term trend that they are riding is in line with the longer term trend.
The resistance and support level at the longer term charts are also more resilient compared to the ones in the shorter term charts. The traders seldom use a time frame longer than daily charts due to the same leverage reasons as mentioned in the first section.
The user is required to have a demo or live account from https: The source code of the spreadsheets is distributed under the GPL open source license.
This allows the user to use the spreadsheets for free and also make the necessary modifications to cater to their needs. Use Cases supported The following use cases are supported by this collection of spreadsheets.