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The Weekly Volume Report: USD Surges, Volume Begins to Come Back

The Weekly Volume Report: USD Surges, Volume Begins to Come Back

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD trades at a new low for the year
  • USD/JPY surges past 112.00
  • USD/CHF OBV at new highs, spot is not

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Daily Volume Chart: EUR/USD

The Weekly Volume Report: USD Surges, Volume Begins to Come Back

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD broke below the early October low this week to trade at its lowest level since August of 2012
  • Above average volume over the past couple of days indicates the broader downtrend is attempting to reassert itself
  • New yearly low in On-Balance-Volume (OBV) is also supportive of a broader downside resumption
  • A move over 1.2765 on above average volume is required to refocus higher

Daily Volume Chart: USD/JPY

The Weekly Volume Report: USD Surges, Volume Begins to Come Back

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY exploded higher on Friday to trade at its highest level since December of 2007
  • Increase in volume over past couple of days is supportive on the uptrend
  • New high in OBV also very supportive of the broader advance
  • A close under 110.10 on above average volume would turn us negative on USD/JPY

Daily Volume Chart: USD/CHF

The Weekly Volume Report: USD Surges, Volume Begins to Come Back

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CHF has moved steadily higher over the past few days, but so far has been unable to surpass the early October yearly high
  • Rise in daily volume over past couple of days is potentially supportive of a broader upside resumption
  • New yearly highs in OBV is also potentially positive
  • A daily close under .9440 would turn us negative on USD/CHF

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--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES