How to combine majors to cross pair trades
First, let's have a look at the majors in the FX Trend favorites
AUDUSD, NZDUSD, and USDCHF are moving downwards on most of their time frames.
So let's do the following calculation:
AUDUSD down + USDCHF down = AUDCHF down
NZDUSD down + USDCHF down = NZDCHF down
So besides the major pairs, we do have two cross pairs to be considered as well.
Let's check the charts in detail beginning with AUDUSD
After a stagnation period we are facing almost perfect conditions for a further down move.
Trends are perfectly in line (above M5), there is no support level in sight and FX Power confirms with perfect strength pattern.
That's a clear AUDUSD SELL trade!
Let's see how it looks at NZDUSD
And once again we can see the extreme correlation between both pairs. Their charts are almost identical.
NZDUSD is a bit closer to the last SR level but the trend and strength situation is perfect for a SELL trade.
Let's head on to USDCHF
USDCHF stopped at at resistance level and has been unable to break through.
In addition we see a mixed picture from FX Power which announces a sideways period on that pair.
So there is no down force to expect from that pair.
AUDCHF shows perfect downtrend conditions and if the downtrend on AUDUSD continues we can benefit here as well.
Same situation here. Perfect conditions for a NZDCHF SELL trade.
So we do have 4 trading opportunities in total - 2 at the majors and 2 at the cross pairs
Will you find more good AUD and NZD setups? Then please share in the comment section
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