Talking Points
- Sharp uptick in Sterling turnover
- Modest rise in yen volume
Want to develop a more in-depth knowledge on the market and strategies? Take a look at DailyFX Trading Guides
Daily Volume Chart: EUR/USD
Charts Created using Marketscope – Prepared by Kristian Kerr
- EUR/USD traded at its highest level since late August this past week
- The general lack of volume is unsupportive of the rise in the rate
- However, a strong daily OBV is a clear positive
- It would take a move under 1.1080 on above average volume to turn us negative on the exchange rate
Daily Volume Chart: USD/JPY
Charts Created using Marketscope – Prepared by Kristian Kerr
- USD/JPY fell to its lowest level since late August this past week
- Above average volume on the recent decline is a potential negative
- However, sideways action in the daily OBV still warrants caution
- 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 rebounded sharply this past week on well anove average volume
- Generally above average volume is supportive of the rise
- Daily OBV still remains a concern as it continues to struggle around multi-month lows
- A daily close below 1.5200 on above averag volume would turn us 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
