TheShakeOut

EURUSD showing lack of supply at previous resistance

CME:E61!   Euro Futures
The chart tells a story and the story unfolds bar by bar.
can you please explain what volume means for FX ?
I mean I knew that FX pairs have no true volume, but only that of your broker
What do I miss
othr than that ... good job, I like it a lot
Reply
Thank you for your comment, @erez.
FX brokers give you tick volume. It shows the number of price changes on the timeframe you are looking at for that specific broker. The "quality" of this tick volume depends on the money providers that the brokers has. I recommend you use more than one broker and compare the data to have more confirmation of the activity you see.
On this analysis I am using the Euro future with Exchange traded volume from the CME. VSA analysis focuses on the activity that is taking place bar by bar and how it affects the spread and close of each bar. Both Tick volume and Exchange traded volume measure the activity therefore both can be use for this kind of analysis.
If you have more questions do not hesitate to ask. Regards
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erez TheShakeOut
thanx for your reply
I have learned from you
:-)
Reply
Good, this supports my bear chart. I was a bit too early on that...
Enough room for a EURUSD downtrend until July 2015
Reply
Hello ChartArt, this market is showing strength at the moment, if the strength is confirmed it will likely continue the uptrend.
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