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The activity of HFT algorithms in the Forex market this morning shows that the USDCAD pair could provide trade setups from the short side in today's day trading session.
Namely, USDCAD is so far moving up and is getting near the light HFT selling pressure zone that is located at 1.2992 and above. Fx traders will be looking for bearish setups if USDCAD enters this HFT zone. Other indicators like the advanced FxTR overbought/oversold indicator could also provide additional signals that USDCAD may be reversing in this area.
To the downside, the light HFT buying pressure zone is noted today at 1.2882 and below.
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