HFT Algorithms Lift NZD/USD At Buying Zone!
|We are analyzing the activity of HFT algorithms in the Forex market today and note that the NZDUSD currency pair may offer interesting opportunities to go long.
The pair reached the light HFT buying pressure zone this morning that is noted at 0.6619 and below. Additionally, an area of horizontal technical support due to prior lows here, the light HFT buying pressure zone attracted buyers that were able to reject the bearish attempt and lift NZDUSD.
While no bullish signal on the hourly chart appears yet, the fact that the advanced FxTR overbought/oversold indicator has entered the oversold area is another factor in favor of a bullish reversal here.
NZDUSD could rally toward the light HFT selling pressure zone in such a bullish scenario, which is noted at 0.6674 and above.
NZD/USD Current Trading Positions
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