Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
The Weekly Volume Report: Cable Divergence

The Weekly Volume Report: Cable Divergence

Kristian Kerr, Sr. Currency Strategist

Share:

Talking Points

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 continues to trade in a choppy sideways to higher range
  • Below average volume during the advance of the past month suggests the exchange rate remains vulnerable to a broader trend resumption
  • However, the lack of divergence on daily OBV remains a potential positive
  • A close under 1.1065 on above average volume is needed to turn the outlook negative on the euro

Daily Volume Chart: USD/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY continues to consolidate above 122.45
  • A notable drop in turnover during the recent move lower is supportive of the broader trend
  • An underperforming daily OBV line is a potential negative
  • A close under 121.40 on above average volume is needed to turn the picture negative

Daily Volume Chart: GBP/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD has come under modest pressure these past few days after recording a multi-minth high last week
  • The general decline in volume since mid-May is unsupportive of a primary trend resumption at this stage
  • A divergence in the daily OBV is also a potential negative
  • A daily close below 1.5640 on above average volume is needed to turn the outlook negative 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

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

DISCLOSURES