Hudson Thomas 
Currency traders tend to go past one pair to have a better understanding of whether the forex market is strong or weak. Although trading one of the major pairs, say, EUR/USD or GBP/USD, will provide ideas of how the dollar is doing, a comparison of cross-pairs may provide more information on such trends. These comparisons assist traders in realizing the currency that is making the move and the one that is responding. Traders create a better base of the strategy and decision by analyzing the actions of various pairs toward each other.
To take a simple example, when EUR/JPY and GBP/JPY move up together, then the yen may be weak generally, not the euro or pound in particular. Conversely, when euro versus the Japanese yen (EUR/JPY) is climbing and GBP/JPY is in decline, it implies that the euro is doing better compared to the pound. All these little tips are important observations that assist traders in selecting the best pair to trade based on directional bias.
In order to make such comparisons significant, traders have resorted to the use of tools that enable them to perform multi-chart analysis and to obtain real-time visual feedback. TradingView charts are quite capable of the task as they allow users to display several currency pairs simultaneously. Traders may specify the layouts according to their process, compare moves in real time, and even use synchronized crosshairs, allowing them to observe how distinct pairs react to the same market events. This minimizes confusion and enables them to recognize a pattern sooner.
The additional advantage that the comparison of cross-pair can give is the confirmation of trade ideas. Assuming the trader is bullish in the euro, this can be verified by looking at its performance against the yen, pound and Swiss franc which can provide other clues. When all the three charts indicate euro strength, it will add more confidence of opening a long position in a related pair. Mixed signals can be an indication to wait out. It is easy to determine which currency is strongest or weakest by checking other pairs, and one tends to trade on the pair that is the strongest against the weakest.
Correlations shown on charts may change over time. Whereas it is quite common to see some pairs move in the same direction, others can separate due to expectations of interest rates, headlines, or other central bank policies. Monitoring such changes will assist traders in avoiding any surprises and help keep up with changing situations. This is easily handled using TradingView charts, where one can change timeframes in a short period of time, add in technical indicators, and also set alerts when there is a test of critical points.
Certain traders apply this comparison technique to identify a possible reversal. When a currency is gaining against the majority of pairs but comes to a standstill against a given one, it can be an indication of weakening impetus. Observing the performance of the same currency under different market conditions provides a kind of early warning mechanism that pure technical analysis of any one pairing may not pick up. All this information is indicated sometimes first of all on a visual level, thus to see several charts is a significant component of a good trading practice.
Whether one is scalping short-term moves or holding for days, cross-pair comparison gives additional clarity. It assists in entry confirmation, screening of poor setups, and perfecting timing. The structure offered by TradingView charts allows implementing this approach effectively, offering traders visual means to work within the complexity of the forex market with the confidence that they can handle the complexity. Through arithmetic calculations, analysis, and taking action based on the findings of the charts, a trader is able to make wiser and informed decisions immediately.