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The analysis of high frequency trading algorithms in the Fx market this morning shows that bearish trade setups may appear on the USDCAD pair in today's trading session.
USDCAD has already traded to and reacted at the light HFT selling pressure zone that is noted today at 1.2859 and above.
The reaction is not too large for now, but a bearish candle has been recorded on the hourly chart (see below).
The bears will get optimistic on a further move lower, perhaps a break below the 1.2820 intraday low can encourage more short entries.
The light HFT buying pressure zone is located today at 1.2754 and below.
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