Daily HFT Trade Setup – HFT Buy Zone Attracts Bulls in EURUSD
We are analyzing the activity of high frequency trading algorithms on the EURUSD pair today and note that trade setups to the upside look attractive on a day-trading basis.
Namely, EURUSD earlier reached the light HFT buying pressure zone, located at 1.1262 and below, where the price initially bounced before making a 2nd downside attempt now.
The bounce created a nice tall bullish pin bar pattern, which could mean that more traders will be inclined to add to long positions here at the buying HFT zone.
The advanced FxTR overbought/oversold indicator is also nearing the oversold area currently. This could be another factor that supports the bullish case here.
To the upside, the light HFT selling pressure zone is located at 1.1307 and above.
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