Advertisement
Australia markets closed
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • AUD/USD

    0.6516
    -0.0002 (-0.04%)
     
  • OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD

    2,254.80
    +16.40 (+0.73%)
     
  • Bitcoin AUD

    107,714.97
    -741.79 (-0.68%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6037
    +0.0003 (+0.05%)
     
  • AUD/NZD

    1.0896
    -0.0006 (-0.06%)
     
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NASDAQ

    18,254.69
    -26.15 (-0.14%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • Dow Jones

    39,807.37
    +47.29 (+0.12%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     

The Weekly Volume Report: Euro Decline Resume But Volume Still Missing

DailyFX.com -

Talking Points

  • EUR/USD falls to 11-year low

  • USD/JPY consolidation continues

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

Daily Volume Chart: EUR/USD

The Weekly Volume Report: Euro Decline Resume But Volume Still Missing
The Weekly Volume Report: Euro Decline Resume But Volume Still Missing

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

The Weekly Volume Report: Euro Decline Resume But Volume Still Missing
The Weekly Volume Report: Euro Decline Resume But Volume Still Missing

Charts Created using Marketscope – Prepared by Kristian Kerr

ADVERTISEMENT
  • 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

The Weekly Volume Report: Euro Decline Resume But Volume Still Missing
The Weekly Volume Report: Euro Decline Resume But Volume Still Missing

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 kkerr@fxcm.com. Follow me on Twitter @KKerrFX


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.