Daily HFT Trade Setup – EURUSD Forms Bearish Candles Inside HFT Sell Zone
The activity of high-frequency trading algorithms this morning shows that potential shorting opportunities may be created on the EURUSD pair in today's Fx trading session.
Namely, the pair already reached the light HFT selling pressure zone that is noted at 1.2141 and above. The bulls have hit a wall there and are so far unable to sustain levels inside this HFT zone.
Moreover, a bearish evening star pattern has been formed on the EURUSD 1-hour timeframe (see below). Intraday support is pinned at the 1.2130 lows. Bears may want to wait for a momentum break below these lows before taking a short trade.