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The analysis of HFT algorithms in today's Fx market session shows that the EURUSD has not yet reached the near-term extremes as defined by high frequency trading data.
Namely, EURUSD is so far consolidating in a tight 30-pip range, in what could be a very volatile 2nd part of the day given the Fed meeting that takes place tonight. Traders will brace for possible sharp moves, but also, the potential for profit EURUSD reaching one of the HFT zones could indicate a turning point.
The light HFT buying pressure zone is located at 1.0481 and below. The light HFT selling pressure zone is located at 1.0567 and above.
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