The activity of high-frequency trading algorithms on the EURCHF pair this morning shows that the EURCHF pair snapped out of the sell-off when it hit the light HFT buying pressure zone that is located at 1.098 and below.
The bulls may want to look for additional confirmation of a bullish reversal here, but the preceding powerful bullish trend suggests that this latest sell-off is likely to be a correction. Furthermore, the FxTR advanced overbought/oversold indicator shows that the current levels of EURCHF are in oversold territory on the 1-hour chart.
The light HFT selling pressure zone to the upside is located today at 1.1068 and above.
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