Analysis of the trading activity of HFT algorithms in the Fx market this morning indicates that the EURUSD currency pair could reach the light HFT buying pressure zone today which is noted at 1.1259 and below.

Additional support at the lows near the 1.1250 level here could give enough reasons for the bulls to enter the market again and possibly drive the EURUSD pair higher on an intraday basis.

Still, some bullish signs to confirm a potential bottom here will be needed before we can call one. Indicators are still showing the trend as bearish; for example, the Improved CCI indicator is still in the red.

A bullish signal on the indicator or some bullish pattern or other bullish signals inside of the light HFT buying pressure zone will increase the probabilities that EURUSD bottoms in this area.

The light HFT selling pressure zone is noted at 1.1319 and above today and it stands as a potential area to target higher. The 1.1300 resistance stands before it and will be a tough level to clear.

EURUSD

 

EURUSD Current Trading Positions

Sell 67%
Buy 33%
100.0%67.0%065707580859095100
Avg Sell Price 1.1359
Avg Buy Price 1.1337
Liquidity Distribution
1.10201.13451.18001SellBuy

 


 

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.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD consolidates weekly gains above 1.1150

EUR/USD consolidates weekly gains above 1.1150

EUR/USD moves up and down in a narrow channel slightly above 1.1150 on Friday. In the absence of high-tier macroeconomic data releases, comments from central bank officials and the risk mood could drive the pair's action heading into the weekend.

EUR/USD News
GBP/USD stabilizes near 1.3300, looks to post strong weekly gains

GBP/USD stabilizes near 1.3300, looks to post strong weekly gains

GBP/USD trades modestly higher on the day near 1.3300, supported by the upbeat UK Retail Sales data for August. The pair remains on track to end the week, which featured Fed and BoE policy decisions, with strong gains. 

GBP/USD News
Gold extends rally to new record-high above $2,610

Gold extends rally to new record-high above $2,610

Gold (XAU/USD) preserves its bullish momentum and trades at a new all-time high above $2,610 on Friday. Heightened expectations that global central banks will follow the Fed in easing policy and slashing rates lift XAU/USD.

Gold News
Week ahead – SNB to cut again, RBA to stand pat, PCE inflation also on tap

Week ahead – SNB to cut again, RBA to stand pat, PCE inflation also on tap

SNB is expected to ease for third time; might cut by 50bps. RBA to hold rates but could turn less hawkish as CPI falls. After inaugural Fed cut, attention turns to PCE inflation.

Read more
Bank of Japan set to keep rates on hold after July’s hike shocked markets

Bank of Japan set to keep rates on hold after July’s hike shocked markets

The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session. 

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Majors

Cryptocurrencies

Signatures