We are analyzing the activity of Fx HFT algorithms this morning and note that the EURUSD currency pair could provide trade setups from the short side in today's trading session.
Namely, EURUSD is retracing from sub-parity levels after yesterday trading as low as 0.9951. The pair is now approaching the light HFT selling pressure zone that is located at 1.0064 and above.
Fx traders will be looking for bearish signals if the HFT selling zone is reached. The overall trend in EURUSD is down, and there is unlikely to be sustainable buying interest. Thus, any potential HFT bearish setups today would also be in line with the overall bearish trend on larger timeframes here.
The light HFT buying pressure zone is located at 0.9957 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)