Daily HFT Trade Setup - EURUSD nearing HFT buying zone!

Analysis of the trading activity of HFT algorithms on the EURUSD currency pair shows that potential bullish opportunities may exist today.

EURUSD has almost reached the light HFT buying pressure zone this morning which is today noted at 1.1648 and below. The price is already bouncing at the prior lows and the momentum of the bearish price action is slowing. This is evident from the bullish divergence readings on the RSI indicator plotted below the candle bars.

Traders can look to enter buy orders around the lows here and target the light HFT selling pressure zone to the upside which is noted at 1.1694 and above. Resistance from the prior highs is also in this same 1.1690 area and that makes it a particularly good point to set profit targets.

EURUSD


 

Your Revolutionary Forex Source

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.