FX Trading Revolution Team
FX Trading Revolution
We are analyzing the activity of HFT algorithms in the Forex market this morning and have noticed that the AUDNZD currency pair may provide interesting buying opportunities later in the trading session.
AUDNZD has already reached the light HFT buying pressure zone which is today noted at 1.0441 and below. Additionally, multiple lows in the 1.0450 area from recent days are providing further buying interest at these levels.
AUDNZD has roughly formed a descending channel on the chart. The prior lows from recent days form the lower trendline of this channel which provides support right in the light HFT buying pressure zone. Forex traders will, therefore, be on the lookout for buying opportunities around the current levels.
The Master MACD indicator is still showing the trend to be bullish, but it will quickly change if the price action rebounds at current levels. Traders will be looking at the resistance trendline of the channel to be reached in case of the bullish scenario. The light HFT selling pressure zone is also near and today is noted at 1.0484 and above.
High Risk Warning: Please note that foreign exchange and other leveraged trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
ADVISORY WARNING: Any news, opinions, research, data, or other information is provided as general market commentary and does not constitute investment or trading advice. FXTradingRevolution.com expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.