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The Weekly Volume Report: Euro Volume Surges

The Weekly Volume Report: Euro Volume Surges

2015-05-01 14:00:00
Kristian Kerr, Sr. Currency Strategist
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Talking Points

  • Euro sees highest volume in years
  • USD/JPY volume starts to rise supporting advance

Get real time volume on your charts for free. Click HERE

Daily Volume Chart: EUR/USD

The Weekly Volume Report: Euro Volume Surges

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD traded at its highest level in over two-months this past week
  • FXCM volume rose to its highest level in years over the last couple of days which is supportive of the advance
  • Daily OBV touched its highest level since early January
  • A close under 1.0860 on above average volume is needed to turn the outlook negative on the euro

Daily Volume Chart: USD/JPY

The Weekly Volume Report: Euro Volume Surges

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY touched its lowest level in over a month before rebounding sharply this week
  • The uptick in volume over the past few days is positive
  • A divergence in daily OBV is also potsntially positive for the exchange rate
  • A close under 118.00 on above average volume would turn us negative on the exchange rate

Daily Volume Chart: USD/CAD

The Weekly Volume Report: Euro Volume Surges

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CAD fell to its lowest level in three months this past week
  • The general rise in volume during this decline is supportive of the downtrend
  • The sharp decline in daily OBV is also supportive
  • A daily close above 1.2300 on above average volume is needed to turn the outlook more positive for funds

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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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