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.
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