HFT algorithms' analysis this morning shows that the EURUSD currency pair could yield attractive selling opportunities in the day-trading session in front of us.
Namely, the pair has now reached the light HFT selling pressure zone that is noted at 1.1084 and above. The price already started to react here as more sellers entered the market here. However, for the moment, no clear signal for a sell trade has appeared yet, and Forex traders will be looking for such a signal before they pull the trigger on a short trade.
The Master MACD indicator, plotted on the chart below, shows that the trend on the hourly timeframe is still bullish. One confirmation for a bearish signal will be when this indicator shifts to the bearish side.
Forex traders will be looking at the light HFT buying pressure zone, noted at 1.1056 and below, for determining profit targets to the downside.
EUR/USD Current Trading Positions
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