Daily HFT Trade Setup – EURCHF Bullish Engulfing Pattern at HFT Buying Zone
We are analyzing the activity of HFT algorithms this morning and note that the EURCHF pair is showing bullish signs at the light HFT buying pressure zone.
The price reacted as soon as EURCHF entered the light HFT buying pressure zone at the 1.037 level and below. The bearish attempts were rejected on two occasions, with the second recent one recording a strong bullish engulfing candle pattern on the hourly chart.
The bulls will be looking for upside potential, perhaps a return toward Friday's highs. The light HFT selling pressure zone is co-located here today and is noted at 1.0409 and above.