FX Trading Revolution Team
FX Trading Revolution
We are analyzing the activity of HFT algorithms in the Fx market today and note that the AUDUSD currency pair has reached the light HFT selling pressure zone and, therefore, may provide attractive opportunities to short the market later in the session.
This light HFT selling pressure zone is noted today at 0.6899 and above. The bears will be looking for confirmation sell signals that AUDUSD is truly reversing here.
The pair has also been rallying in the past few days, supported by a rising trendline, as shown in the chart below. A bearish breakout of this trendline would be a good confirmation signal that the top is in place. Fx traders will look at the light HFT buying pressure zone as a potential target. It is noted at 0.6859 and below for today's session.
AUD/USD Current Trading Positions
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