The excitement of last week quickly faded yesterday and volume dropped swiftly. However there is little yet that suggests the overall squeeze is actually over. CAD volumes generally were relatively light although USD/CAD volumes were above average: the risks of a corrective selloff are growing for later in the week. EUR volumes dried up as the market tried to correct lower suggesting the recent highs will be retested. EUR/CHF volumes remain elevated compared to their one-month average.
Click here to read the full report: Technical Research
Barclays Capital