EUR/USD Running Toward The HFT Sell Zone!
|The analysis of the activity of HFT Algorithms on the EUR/USD currency pair this morning shows that there is potential for bearish opportunities to be created here today.
The EUR/USD pair is currently approaching the light HFT selling pressure zone, noted at 1.1097 and above, where it is likely to encounter more intensive selling pressures.
As shown in the chart below, in addition to the ht HFT selling pressure zone, we can see that EUR/USD is trading inside of the ascending channel, and the resistance trendline sits near the 1.1100 round number level. Furthermore, classical resistance from higher timeframes also sits in this same 1.1100 area, probably adding to the selling pressures here.
If nothing more, such a cocktail of factors is likely to provide at least a short-term reaction in the price, which could be a day-trading opportunity.
The support trendline of the channel is sitting near 1.1060, while the light HFT buying pressure zone is noted at 1.1034 and below, as potential targets to the downside.
EUR/USD Current Trading Positions
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