USD/CHF Is Testing The Light HFT Buy Area!
|We are analyzing the activity of the HFT algorithms in the Forex market this morning and note that the USDCHF currency pair has reached the light HFT buying pressure zone, which is noted at 0.9738 and below.
The price started to react as soon as the HFT area was reached, and signs for a bounce are already apparent on the hourly chart of USDCHF. Although the recent trend here is bearish, and USDCHF is trading in an intraday descending channel, the price is now bouncing at the support trendline (see chart).
In case if such a bullish scenario materializes today, the bulls will be looking at the resistance trendline and the light HFT selling pressure zone - noted at 0.9792 and above - as potential targets.
FX Trading Revolution - Your Revolutionary Forex Source
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.