Talking Points
Get real time volume on your charts for free. Click HERE
Charts Created using Marketscope – Prepared by Kristian Kerr
- EUR/USD surpassed the late January lows to trade at its lowest level in 11 years this past week
- The lack of volume on the break to new lows is a concern
- However, the sharp decline in daily OBV is clearly supportive of a trend resumption
- A close above 1.1180 on above average volume would shift attention higher
Daily Volume Chart: USD/JPY
Charts Created using Marketscope – Prepared by Kristian Kerr
- USD/JPY continues to consolidate around 120.00
- The lack of volume during the push higher at the start of February continues to be a concern
- The lack of momentum on in daily OBV is also potential negative for bulls
- A close under 118.40 on above average volume would turn us negative on the exchange rate
Daily Volume Chart: GBP/USD
Charts Created using Marketscope – Prepared by Kristian Kerr
- GBP/USD has come under steady pressure over the past week
- Volume has picked up on the decline supporting the notion of a broader downside resumption
- The fall in daily OBV to new cycle lows also supports decline
- A daily close above 1.5350 on above average volume would turn us positive on Cable
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
