EUR/USD Bearish Attempt Rejected At HFT Buy Zone!
|We are analyzing the activity of HFT algorithms in the Forex market today and have noticed that bullish trading opportunities may be interesting today.
Namely, the pair has now reached the light HFT buying pressure zone which is today noted at 1.1262 and below. The bearish attempt got strongly rejected and the hourly candle is way off the lows as of this moment.
This is a solid bullish signal that appears at the light HFT buying pressure zone but is also near the 1.1250 support zone. While for the moment, the bullish signal is not fully confirmed, the probabilities suggest it soon may be.
The Master MACD is also giving a bullish signal, but a bullish reversal will be confirmed when EURUSD breaks above today's daily high at 1.1288. It will at the same time, clear the resistance trendline of the descending channel (see chart below).
Nonetheless, looking to buy around current levels near the support trendline offers good risk-reward. And, in the bullish case, EURUSD is likely to head toward the light HFT selling pressure zone which is noted at 1.1297 and above. The medium HFT selling pressure zone is noted at 1.1332 and above.
EURUSD Current Trading Positions
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