Talking Points
EUR/USD trades at a new low for the year
USD/JPY surges past 112.00
USD/CHF OBV at new highs, spot is not
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Daily Volume Chart: EUR/USD
Charts Created using Marketscope – Prepared by Kristian Kerr
EUR/USD broke below the early October low this week to trade at its lowest level since August of 2012
Above average volume over the past couple of days indicates the broader downtrend is attempting to reassert itself
New yearly low in On-Balance-Volume (OBV) is also supportive of a broader downside resumption
A move over 1.2765 on above average volume is required to refocus higher
Daily Volume Chart: USD/JPY
Charts Created using Marketscope – Prepared by Kristian Kerr
USD/JPY exploded higher on Friday to trade at its highest level since December of 2007
Increase in volume over past couple of days is supportive on the uptrend
New high in OBV also very supportive of the broader advance
A close under 110.10 on above average volume would turn us negative on USD/JPY
Daily Volume Chart: USD/CHF
Charts Created using Marketscope – Prepared by Kristian Kerr
USD/CHF has moved steadily higher over the past few days, but so far has been unable to surpass the early October yearly high
Rise in daily volume over past couple of days is potentially supportive of a broader upside resumption
New yearly highs in OBV is also potentially positive
A daily close under .9440 would turn us negative on USD/CHF
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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
The Weekly Volume Report: USD Surges, Volume Begins to Come Back
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