Daily HFT Trade Setup – USDCAD Moves Down After Rejection at HFT Sell Zone

 
 
 
 
 
 
 

The analysis of high-frequency trading algorithms this morning shows that the USDCAD pair may provide short opportunities in today's day-trading session.

Namely, USDCAD earlier reached the light HFT selling pressure zone is located today at 1.2604 and above. The attempt was rejected there with a bearish engulfing candlestick pattern on the hourly chart, indicating that the bears are in control now.

USDCAD looks like it will proceed lower from here, potentially toward

the light HFT buying pressure zone that is noted today at 1.2535 and below.

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