I would like to see how close these 2 contracts track each other on a chart if I make a trade in one contract and at the same time the same trade in the other , I should have very similar results on an intraday basis ?
Interesting... Add on 2STDv and 3STDv bands... Would that be helpful in the visualization. Possible Low Latency Arb ?
I'm guessing the futures is the MID, and the BID/ASK is derived from the forex quote, but I really have no reason to price this out. Also, these are 1 min bars as a line chart, where you would really need a much faster chart (1 sec bars at least). You're not likely to be able to do any arb as a retail on this. I know the futures trade nicely, and the leverage is good enough if you're well capitalized. The guys saying futures VWAP is useless are dumb.
Very little difference intraday. Closing price lines are nearly on top of each other on M3 chart. By the time you add commissions and spreads, the arb opportunity will be negative IMO.
Another view... 1 min candles from Monday, Dec 9th (to avoid the holiday period) are very similar but usually not identical in structure.
CME FX futures have been around since before the Euro came into existence - how in the world could the most active, liquid contract have anything to arb - or much to gain from looking at one to trade the other. if there is let me know? The FX spot brokers can. Doubt anyone else can, let alone peewee retailers.