Daily HFT Trade Setup – EURCHF Rejected After Hitting HFT Selling Pressure Zone
We are analyzing Forex high frequency trading algorithms and note that the EURCHF pair could provide opportunities to go short in today's trading session.
Namely, EURCHF just spiked higher to reach the light HFT selling pressure zone that is located today at 1.0269 and above. But, after only touching the HFT area, the price reacted strongly, and so far the bullish attempt is being pushed back.
A convincing bearish signal on the 1-hour timeframe is yet to occur, however. But once/if that happens, it may signal that more downisde action in EURCHF is to come today.
The light HFT buying pressure zone is located today at 1.0168 and below.
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