EUR/USD overbought in HFT selling area
|We are analyzing the activity of the EURUSD currency pair this morning and find that HFT algorithms are flashing potential short opportunities for the day-trading session ahead.
For instance, EURUSD just reached the light HFT selling pressure zone that today stands at 1.1854 and above. There has been some initial reaction in the price, though no reversal pattern has been formed yet.
Other technical indicators are confirming the potential for a reversal here. The advanced FxTR overbought/oversold indicator is showing that EURUSD is in the overbought area on the hourly chart. Additionally, the accurate FxTR Divergence indicator is signaling that bearish divergence exists on this same chart.
The light HFT buying pressure zone today is at 1.1773 and below.
EUR/USD Current Trading Positions
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