Daily HFT Trade Setup – USDCAD Inside HFT Selling Zone Ahead of BOC Policy Meeting

This morning's analysis of Fx trading algorithms' activity shows that USDCAD has entered the light HFT selling pressure zone that is located today at 1.2403 and above.

With the Bank of England rate decision meeting taking place later today, it is likely to be a volatile session for the USDCAD pair. The bears will be looking for reasons to sell here in the HFT selling pressure zone, while the bulls may hope for an extension higher.

To the downside, the light HFT buying pressure zone is located today at 1.2357 and below.

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