Daily HFT Trade Setup – EURCHF Stops Decline at HFT Buying Pressure Zone


The activity of high-frequency trading algorithms on the EURCHF pair this morning shows that the EURCHF pair snapped out of the sell-off when it hit the light HFT buying pressure zone that is located at 1.098 and below.

The bulls may want to look for additional confirmation of a bullish reversal here, but the preceding powerful bullish trend suggests that this latest sell-off is likely to be a correction. Furthermore, the FxTR advanced overbought/oversold indicator shows that the current levels of EURCHF are in oversold territory on the 1-hour chart.

The light HFT selling pressure zone to the upside is located today at 1.1068 and above.

Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)