Daily HFT Trade Setup – HFT Algos Selling EURUSD Ahead of US CPI Release
The activity of high frequency trading algorithms in the currency market shows that sellers were able to push the EURUSD pair to a new lower low today. EURUSD was also pushed into the light HFT buying pressure zone that is located at 1.1572 and below, before rebounding slightly.
Still, the bears are in control here, and further attacks to the downside are possible, especially dependent on that USD CPI inflation report due for release later today. The medium HFT buying pressure zone - located today at 1.1533 and below - will come in focus next if EURUSD continues the slide.
The light HFT selling pressure zone is located today at 1.1611 and above.
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