Daily HFT Trade Setup - HFT algorithms indicate potential shorts on NZDUSD
|Analysis of HFT algorithms in the Fx Market this morning shows that the NZDUSD currency pair is moving toward the light HFT selling pressure zone that is today noted at 0.6792 and above.
The pair is on the rise today but solid resistance is also found in the 0.6800 area and inside of the light HFT selling pressure zone. The bullish momentum has already started to weaken, so traders should be prepared to look for reversal patterns. NZDUSD could reach the HFT selling zone on another push higher and then reverse. The FxTR Improved RSI indicator has already turned neutral.
Support to the downside is found at 0.6715 and in the light HFT buying pressure zone which is today noted at 0.6700 and below. Traders can use these levels to determine profit targets on short positions.
NZDUSD Current Trading Positions
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