EURO
The BEGOS acronym letter ‘E’ is for the Euro/USD exchange rate, representative of the cost of foreign exchange, as priced by its futures contract on The Chicago Mercantile Exchange and Globex.
Market Value
When the Euro crosses its smooth Market Value line, we anticipate the price to continue in the same direction. But when the price gets too far away from the Market Value line we are wary the trend may be ending.
Upper panel description: the price of the Euro and its Market Value line from a year ago-to-date.
Lower panel description: the deviation of the Euro from its Market Value line.
Market Trend
These are the Euro’s daily bars for the last three months to-date. The blue dots (aka “Baby Blues”) denote trend consistency. When the blue dots break above their -80% axis, higher prices are anticipated. When the blue dots break below their +80% axis, lower price is anticipated. Either way, the “Baby Blues” are a keen depiction of current trend.
Market Profile
The Euro’s Market Profile is essentially the amount of contract volume traded at every price point across the past 10 trading days, (i.e. two weeks). The longest lines are therefore indicative of price support and resistance. The colored lines represent the most recent trading day with the white bar as the last closing price.
Market Magnet
The Euro’s Magnet is the volume-weighted consensus price of the Euro’s’ Market Profile. Upon the Euro being “attracted” to and crossing the Magnet, we expect price to continue in the same direction. But when the price gets too far away from the Magnet, we anticipate price to be re-attracted to the Magnet.
Upper panel description: the price of the Euro and its Magnet level as shown in the box.
Lower panel description: the deviation as shown in the box of the Euro from its Magnet.
Market Range
The “Expected Daily Trading Range” (EDTR) is a rational, acceptable estimate as to the number of points the Euro futures may span between the high and low for the ensuing trading day. That number is inside the chart’s box.
Market Rhythm
The Euro’s best Market Rhythm at present is displayed in this Market Rhythm chart, its attributes as labeled. When this Rhythm has been positive, the Euro’s price is shown in Green (i.e. Long), else when negative the price is shown in Red (i.e. Short).