EUR/CHF staging a rebound at HFT buying area

FX Trading Revolution Team FX Trading Revolution

We are analyzing the activity of high-frequency trading algorithms on the EURCHF pair this morning and find that bullish opportunities look attractive.

Earlier this morning, EURCHF reached the light HFT buying pressure zone that is noted at 1.0705 and below. The price bounced quickly on the first attempt and then even stronger on the second attempt. Thus, EURCHF has now formed a double bottom pattern on the hourly chart and inside the HFT buying area.

Fx traders will be looking to profit on bullish opportunities and may target the light HFT selling pressure noted at 1.0738 and above.

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