Daily HFT Trade Setup - USDCAD declining toward HFT buy zone!
|Analysis of the trading activity of HFT algorithms in the Fx market today shows that the USDCAD is declining toward the light HFT buying pressure zone that is noted at 1.3199 and below. Hence, bullish trading opportunities could be provided on the day here.
The pair has been rising strongly in the past several days and the most recent decline comes as a retracement. But, it appears that for now the retracement can continue lower and reach the light HFT buying pressure zone that is specified above. Here, USDCAD will also meet the round number support level at 1.3200, but also the whole area between 1.3180 and 1.3200 is a support zone on intraday charts due to previous highs here.
Traders can look to enter on bullish patterns and signals in this area and target a move higher toward the light HFT selling pressure zone that is noted at 1.3289 and above.
USDCAD Current Trading Positions
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