Daily HFT Trade Setup – USDCHF Building-Up for a Breakout Between HFT Buy and Sell Zones
We are analyzing activity in the Fx market today and note that the USDCHF pair is trading in a range ahead of the high-impact Nonfarm Payrolls release from the US, which is minutes away.
USDCHF is also trading between the two nearest buy and sell zones, according to our high frequency trading algorithms.
The two HFT zones are noted at the following levels for today's session:
- the light HFT selling pressure zone is located at 0.9223 and above.
- the light HFT buying pressure zone is located at 0.9179 and below.
Forex traders can look for setups in both the bullish and bearish direction given the recent ranging price action. The volatility during and around the NFP release can provide even more and better opportunities for short-term traders.
Another important calendar release today is the ISM services PMI out at 15pm GMT (10am ET).
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