Daily HFT Trade Setup – USDCAD Backs Down at HFT Selling Zone
We are analyzing the activity of high-frequency trading algorithms this morning and note that the USDCAD pair may have reached a top for the day and offer some trade setups from the short side.
USDCAD reached the light HFT selling pressure zone during the Asian session, which is noted at 1.2602 and above. The price reacted well there, with the bullish attempt getting rejected. The Thursday highs around 1.2625 also represent technical resistance, which is another factor that may attract sellers here.
To the downside, the light HFT buying pressure zone today is located at 1.255 and below.