We are analyzing the different Fx pairs this morning and the trading activity of HFT algorithms, noting that the USDCAD pair may be an interesting place to look for buying opportunities later today.
For instance, USDCAD is moving closer toward the light HFT buying pressure zone this morning, which is noted at 1.3109 and below. If the price reaches this area, more buyers are likely to be attracted, which could provide a bounce at these levels.
We can also see that the prior trend on the hourly timeframe is clearly bullish, and that is another factor in favor of looking for buy entries on USDCAD today. In such a case, the bulls will be watching the light HFT selling pressure zone - noted at 1.3157 and above - as a potential target to aim for.
USD/CAD Current Trading Positions
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