Daily HFT Trade Setup – HFT Algorithms Start Selling EURCHF Near Range Resistance
This mornings' analysis of high-frequency trading algorithms' activity shows us that the EURCHF currency pair has reached levels that may create attractive opportunities to trade it from the short side.
Namely, EURCHF reached the light HFT selling pressure zone today that is located at 1.0911 and above, which also concurs with yesterday's highs and intraday highs from previous sessions as a reinforcing technical factor at this juncture.
The price reacted well in this area, and the first bullish attempt was already rejected. EURCHF is now making another attempt, and perhaps another strong rejection could give rise to a solid bearish setup.
To the downside, the light HFT buying pressure zone is located at 1.0882 and below.
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