The Weekly Volume Report: Euro Volume Surges

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Talking Points

• Euro sees highest volume in years

• USD/JPY volume starts to rise supporting advance

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

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