|

EUR/GBP At HFT Selling Zone!

Analysis of the trading activity on HFT algorithms this morning shows that the EURGBP currency pair has reached the light HFT selling pressure zone which is noted at 0.8639 and above.

Bearish trading opportunities could be provided in the trading session ahead if EURGBP starts to reverse around this important HFT Sell Zone.

The Master MACD indicator, for the moment, is not confirming a bearish signal and the price action is sideways with the high near 0.8650 acting as classical horizontal resistance. A reversal pattern or a bearish signal from the indicators around this level can offer confirmation for initiating a short trade.

The light HFT buying pressure zone to the downside which is noted at 0.8587 and below will be considered for placing profit targets.

EURGBP

Your Revolutionary Forex Source


FX Trading Revolution - Your Revolutionary Forex Source

Author

FX Trading Revolution Team

FX Trading Revolution Team

FX Trading Revolution

The FX Trading Revolution website is a free independent FOREX source, and was founded to provide true and unbiased information about FOREX trading.

More from FX Trading Revolution Team
Share:

Editor's Picks

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.
 

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.