SintesiFX is an indicator offering a “synthetic view” of the 8 major currencies: USD, EUR, GBP, JPY, CHF, CAD, AUD, NZD. You can choose the currency you want to focus on, just selecting it in the input parameters.
Have you ever traded one currency pair like EURUSD while at the same time keeping an eye on what happens on other major pairs like GBPUSD, USDJPY, AUDUSD? You surely have noticed that the price movements on all pairs have some correlation, and if a breakout or a reversal on one pair is not followed by a similar breakout/reversal on the other pairs then in most cases you are seeing a false breakout or a false reversal. That typical “false move” that is just enough for triggering the stop loss of many inexperienced traders before the price resumes its “true” direction. If you have traded for any length of time you surely know what I’m talking about, and you surely have experienced the bad feeling of having being caught in a classic “trap”.
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