NZD/USD Reached HFT Sell Zone!
|We are analyzing the trading activity of HFT algorithms in the Forex market this morning and have noticed that the NZDUSD currency pair may offer selling trading opportunities today.
Namely, NZDUSD has already reached the light HFT selling pressure zone today which is noted at 0.6643 and above. The market has already reacted to the price reaching this area though it has been a minor one only so far.
Trend indicators such as the Improved CCI and the Master MACD, developed by the Team Fx Trading Revolution, are showing a bullish trend and NZDUSD is still trading inside of a rising channel. This means that the bullish attempt can extend higher into the light HFT selling pressure zone before a reversal signal is given.
On the other hand, traders will look at the light HFT buying pressure zone, which is noted at 0.6593 and below, for placing profit targets.
NZDUSD Current Trading Positions
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