Daily HFT Trade Setup – USDCAD Finds a Bid at HFT Buy Zone

High frequency trading algos' activity today indicates that the USDCAD pair could potentially provide trade setups from the long side.

USDCAD this morning reached the light HFT buying pressure zone that is standing today at 1.2473 and below. Though trading in a sideways range for the past few days, the pair found a bid at the HFT buying zone as buyers entered the market.

The top of the range zone is located around the 1.25 round number level and a little higher, toward 1.2520. The light HFT selling pressure zone is found today at 1.2535 and above.

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