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The Weekly Volume Report: Volatility Reigns, But Turnover Lacking

The Weekly Volume Report: Volatility Reigns, But Turnover Lacking

2014-12-19 15:30:00
Kristian Kerr, Sr. Currency Strategist
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Talking Points

  • GBP/USD volume figures unsupportive of recent decline
  • EUR/USD nears new low for the year, but volume remains low

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Daily Volume Chart: EUR/USD

The Weekly Volume Report: Volatility Reigns, But Turnover Lacking

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD underwent a volatile week of trading with spot touching new highs for the month before settling back towards the lows of the year
  • Declining volume since mid-October is unsupportive of the downtrend
  • Persistent divergence in daily OBV also a concern
  • A close under 1.2245 on above average volume will re-focus lower

Daily Volume Chart: USD/JPY

The Weekly Volume Report: Volatility Reigns, But Turnover Lacking

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY fell to its lowest level in almost a month before rebounding sharply from support around 115.50
  • General rise in volume since November is supportive of the uptrend
  • OBV divergence over past few weeks remains a concern
  • A close under 115.00 on above average volume will re-focus lower

Daily Volume Chart: GBP/USD

The Weekly Volume Report: Volatility Reigns, But Turnover Lacking

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD recorded a new low for the year this week
  • Declining volume since early September is not supportive of the recent advance
  • A persistent divergence in OBV is also unsupportive of recent weakness
  • A daily close under 1.5790 on above average volume would turn attention higher

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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.

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