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We are analyzing HFT algorithms' activity today and note that the EURUSD pair may provide more short-term bearish setups.
Namely, following the recent downtrend, EURUSD is consolidating today and rising toward the light HFT selling pressure zone located at 1.1239 and above.
If reached, the light HFT sell zone is likely to attract more sellers to enter the market, which could push down on the rally. Thus, this is a good area to look for potential bearish setups, which may confirm a potential reversal.
To the downside, the light HFT buying pressure zone is located at 1.117 and below.
Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)
