Gold (XAU/USD) At HFT Buy Zone!
|We are analyzing the activity of HFT algorithms in the Forex market today and note that Gold has reached the light HFT buying pressure zone which is today noted at $1333.41 and below.
The price has already started to react here Gold is off the lows, though a more convincing sign will be needed to trigger a bullish signal here. The FxTR CCI indicator is showing the trend bearish while the Master MACD has already shifted neutral.
The yellow metal is also trading inside of a declining channel and a bullish break outside of it will help to turn the technicals more bullish. Under a bullish scenario, the way toward the first resistance in the $1345 area will be cleared and Gold could even reach the light HFT selling pressure zone that is noted at $1353.74 and above.
XAUUSD Current Trading Positions
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