As a secondary market for foreign exchange analysis we’ve the SWISS Franc/USD rate as priced by its futures contract on The Chicago Mercantile Exchange and GLOBEX. (Because the Swiss Franc is a secondary rather than a primary BEGOS Market, a comparable Market Value calculation is not maintained).
These are the Swiss Franc’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.
The Swiss Franc’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.
The Swiss Franc’s Magnet is the volume-weighted consensus price of the Swiss Franc’s Market Profile. Upon the Swiss Franc 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 Swiss Franc and its Magnet level as shown in the box.
Lower panel description: the deviation as shown in the box of the Swiss Franc from its Magnet.
The “Expected Daily Trading Range” (EDTR) is a rational, acceptable estimate as to the number of points the Swiss Franc futures may span between the high and low for the ensuing trading day. That number is inside the chart’s box.
The Swiss Franc’s best Market Rhythm at present is displayed in this Market Rhythm chart, its attributes as labeled. When this Rhythm has been positive, the Bond’s price is shown in Green (i.e. Long), else when negative the price is shown in Red (i.e. Short).