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: GBP OBV Still Leads the Way

The Weekly Volume Report: GBP OBV Still Leads the Way

Kristian Kerr, Sr. Currency Strategist

Share:

Talking Points

  • Cable breaks to 5-month low
  • Euro threatens 1.1100

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 came under further pressure this past week to test the 1.1100 area
  • Well below average volume on the recent decline does raise some doubts about the strength of the decline
  • However, a generally weak OBV is constructive for further weaknnss
  • A close above 1.1325 on above average volume would turn us positive on the rate

Daily Volume Chart: USD/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY came under renewed pressure this past week, but held well above the lows from last month
  • Volume has been generally below average during the week which is unsupportive of the downtrend
  • Daily OBV is also well above last week’s low and a move under the extremes of last week is really needed to set off a more important leg lower
  • A close back over 121.65 on above average volume would turn us positive on the pair

Daily Volume Chart: GBP/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD fell to its lowest level since May this past week
  • Below average volume on the decline does make us question the move
  • However, the sharp decline in daily OBV has been a good leading indicator for recent weakness
  • A daily close over on above average volume would turn us positive 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