Daily HFT Trade Setup – USDCAD Testing HFT Sell Zone Ahead of Volatile Session
We are analyzing the activity of HFT algorithms and note that the USDCAD could provide interesting two-way opportunities in what is likely to be a volatile trading NY session.
Fx traders will brace for the NFP and jobs report releases from both the US and Canada later today at 14:30 CET (8:30 ET). Interestingly, the USDCAD pair is now testing the light HFT selling pressure zone, located at 1.3025 and above. A reversal here could come in a rapid fashion at the time of the NFP release.
To the downside, the light HFT buying pressure zone is located at 1.2932 and below for today's session.
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