Daily HFT Trade Setup – USDCAD Moving Down Toward HFT Buying Zone
We are analyzing the activity of HFT algorithms this morning and note that the USDCAD could potentially provide bullish trading opportunities later in the session.
Namely, USDCAD is on the decline so far today and looks headed toward the light HFT buying pressure zone, which is located at 1.2943 and below. If it reaches it, stronger bullish forces are likely to emerge there, which could result in a turnaround in sentiment to bullish again. USDCAD bulls will be looking for such opportunities and potential trade setups to go lomg.
To the upside, the light HFT selling pressure zone is located at 1.3024 and above.
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