We are analyzing the activity of HFT algorithms today and find that Gold has already reached the light HFT buying pressure zone that is noted at 1862.1 and below.
The precious metal is testing an important technical support zone here inside the HFT area, where it previously failed to break lower on several occasions in the past two months.
While no bullish signal has been confirmed on the hourly chart, the initial rebound at the HFT buy area is the first sign that the direction may be turning. Traders can look for confirmation from other indicators such as the FxTR Master MACD and advanced CCI indicators (see the chart).
To the upside, the light HFT selling pressure zone today stands at 1883.33 and above.
XAU/USD Current Trading Positions
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