Sign In with Google
Sign In with Facebook
We are analyzing the activity of HFT algorithms this Wednesday morning and note that the USDCHF pair is very near to reaching the light HFT buying pressure zone that is located today at 0.8897 and below.
The bears are in charge here, as can be seen from the 1-hour chart below. They have been pushing the price lower for several sessions, turning the short-term trend clearly bearish. However, in addition to the light HFT buy zone, the 0.8900 support area stands in the way of further downside prices today.
If enough buyers enter the market here, they could lift USDCHF higher. The advanced FxTR overbought/oversold indicator is flashing oversold, as another factor in favor of the bulls here.
To the upside, the light HFT selling pressure zone is located at 0.8968 and above
Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)
