Daily HFT Trade Setup – USDCHF Enters HFT Sell Zone


Today's activity of high frequency trading algorithms flags the USDCHF currency pair as a potential setup to go short later in the session.

The pair has reached the light HFT buying pressure zone that is located for this session at 0.9286 and below. The bullish advance has stalled here in the HFT sell zone, but a distinct sell signal is yet to be given.

While the price action is not giving a clear reversal signal, other indicators confirm that the current USDCHF levels could give rise to one. For instance, the advanced FxTR overbought/oversold indicator is in the highly overbought area, standing at a reading of 98 (see chart).

To the downside, the light HFT selling pressure zone is located today at 0.9199 and above, and may serve as a target for USDCHF bears.