USD/CHF Is Testing The Light HFT Buy Area!

FX Trading Revolution Team FX Trading Revolution

We are analyzing the activity of the HFT algorithms in the Forex market this morning and note that the USDCHF currency pair has reached the light HFT buying pressure zone, which is noted at 0.9738 and below.

The price started to react as soon as the HFT area was reached, and signs for a bounce are already apparent on the hourly chart of USDCHF. Although the recent trend here is bearish, and USDCHF is trading in an intraday descending channel, the price is now bouncing at the support trendline (see chart).

In case if such a bullish scenario materializes today, the bulls will be looking at the resistance trendline and the light HFT selling pressure zone - noted at 0.9792 and above - as potential targets.

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