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This morning's analysis of Fx high frequency trading algorithms tells that the EURCHF currency pair could provide bearish trading opportunities.
For instance, EURCHF already reached and got rejected at the light HFT selling pressure zone, which is located at 0.9757 and above. The bears may start to look for bearish setups to enter short already here, particularly given that the dominant trend is down on larger timeframes. The doji, high wave candle now formed on the hourly chart is a good indicator that bearish forces are strong here.
To the downside, the light HFT buying pressure zone is noted today at 0.9714 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)
