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We are analyzing the EURUSD pair today and find that HFT algorithms have started selling the pair, which has already reversed all the daily gains and is now down on the day.
EURUSD rose during the Asian session to reach the light HFT selling pressure zone that is located at 1.2157 and above. The bullish attempt was reversed there, and EURUSD took a turn. Trend indicators have also shifted bearish now on the hourly chart, pointing to probable further losses for the currency pair.
To the downside, Fx traders will look for high-probability price zones to use as targets. The light HFT buying pressure zone is standing today at 1.2086 and below.
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