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We are analysing HFT algorithms' activity in the Fx market this morning and note that the EURCHF just reached the light HFT selling pressure zone, which is an indication of a potential bearish setup in the making.
The light HFT selling pressure zone is seen today at 1.106 and above. More sellers are expected to enter the market in this area, which can subsequently lead to a reversal of the bullish attempt.
The fact that a technical resistance area is also nearby will be an aiding factor for the bears. The light HFT buying pressure zone is located today at 1.1026 and below.
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