Daily HFT Trade Setup – HFT algorithms Start Buying USDCAD

We are analyzing the activity of HFT algorithms today and note that the USDCAD pair is giving signs that the low could of the day may be near.

Namely, USDCAD was falling for the most part of today's session and reached the light HFT buying pressure zone that is located at 1.2480 and below. Here, the downside move stopped, and USDCAD is even bouncing a bit.

Traders will now look for bullish confirmation here before the low can be called. To the upside, the light HFT selling pressure zone is standing at 1.2546 and above.