AUD NZD agreement

For some time now I have been focusing on different pairs confirming strength. I have been using, courtesy of Clive from Forex Factory, what he calls a TT indicator. This measures the slope of a moving average. The higher the number the stronger the move and therefore the better the trend on that timeframe (we accept that trend is time frame dependent).

I also use a visual correlation between the 6 pairs charts I have up (gbpaud, gbpjpy and gbpnzd with the same eur crosses). I like pairs to agree, yes its easier when there is broad strength or weakness for a currency and many of its crosses are up/down (here the TT indicator might have 4-5 or more pairs featuring 1 currency). At a minimum I want two pairs to agree, say aud is weak against gbp and eur or in this mornings case eur was strong against aud and nzd. I have been watching the aud and nzd correlation between eur and gbp for some time now.

This morning there was more information:

- the 1hr charts for euraud and eurnzd show the higher high higher low confirmation of the trend higher.
- at London open (green line) the 5 min charts are above their moving averages and they are making higher lows which suggests now the short term trend is in line with the 1hr.
- of course we now have agreement between pairs suggesting the eur is strong and aud, nzd weak.
- the stochastic 20, 20, 1 (same as W% R 20) are above the 50 level.