Daily HFT Trade Setup - USDCAD bounces at HFT buying zone!
|Analysis of the trading activity of HFT algorithms in the Fx market shows that the USDCAD currency pair has reached the light HFT buying pressure zone that is noted at 1.321 and below.
The price reacted well here and USDCAD has already bounced with the FxTR CCI indicator also now turning bullish. Additionally, the 1.3215 area is important short-term support for USDCAD as can be seen from the chart below. The pair is now trading inside this range between 1.3215 as support and 1.3260 to the top as resistance.
Currently trading at the bottom of this range, bullish trading opportunities could be provided today. Traders can look at the 1.3260 resistance at the top of the range to place their profit targets. Additionally, the light HFT selling pressure zone which is noted slightly higher at 1.3266 and above could also be reached if the bullish momentum gathers pace.
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