When price is falling and volume is decreasing, the downtrend is unlikely to continue. Price will either continue Metatraser decrease, but at a slower pace or start to rise. Image 1 In the first phase on the image below blue arrows price is in a down trend, however volume is also decreasing. That tells us that this trend is losing momentum and we can expect a reversal soon which it actually happened afterwards.
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Phase two showed progressively increasing volumes, creating a smooth up Metatraded. This is a sign for a healthy trend. Notice the decrease in volume during corrections. Image 2 Another example but this time the down trend the period marked between the vertical lines comes with increasing volume. As you can see, after the correction happened, we saw a continuation down.
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Forex volume cannot be measured precisely as it is done, for example, in Equity Metatrade, where every share traded equals 1 volume, and selling shares means Metatradef volume. Forex by nature cannot count how many contracts and what sizes of contracts were traded at any given time, because the market is wide and decentralized. As it moves up and down volume adds up. When volume rises, it means lots of participants are actively selling and buying currencies. When volume spikes at certain price level, traders know that there was lots of interest shown by traders to that price level.
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If there is a lot of interest, it means the level is an important one. This simple observation of a volume indicator allows identify important Support and Resistance levels, which would certainly play significant role in the future. Single volume spikes only bring price to a halt. A lot of stand-alone average volume spikes occur during fundamental economic announcements on daily basis. News can cause spike in volume for a single day and then volume disappears again.
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