Talking Points
- USD/JPY trades at near two month high
- Cable daily OBV declines sharply
Get real time volume on your charts for free. Click HERE
Daily Volume Chart: EUR/USD
Charts Created using Marketscope – Prepared by Kristian Kerr
- EUR/USD came under steady downside pressure over the past week
- Below average volume on the move lower remains a concern and is unsupportive of a broader decline
- However, the downside persistence in daily OBV does hint at a further decline
- A close back over 1.1100 on above average volume is needed to turn the outlook positive again on the euro
Daily Volume Chart: USD/JPY
Charts Created using Marketscope – Prepared by Kristian Kerr
- USD/JPY traded at its highest level in almost two months this week
- However, low volume on the move higher is unsupportive of a broader advance
- The lack of momentum in daily OBV is also a concern
- A close under 122.00 on above average volume would turn us negative on the pair
Daily Volume Chart: GBP/USD
Charts Created using Marketscope – Prepared by Kristian Kerr
- GBP/USD remains in consolidation mode below 1.5700
- Well above average volume over the past few days signals a directional move is looming
- A strongly trending daily OBV line warns of an eventual downside resolution
- A daily close back over 1.5700 on above average volume would turn us positive on the pound
To receive Kristian’s analysis directly via email, please SIGN UP HERE.
--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com
To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX
