Daily HFT Trade Setup – USDCAD Rally Stops at HFT Sell Zone
HFT algorithms in the Fx market today indicate that the USDCAD could offer attractive trading opportunities in the remaining part of the day-trading session.
USDCAD was rising in Asian trading overnight and reached the light HFT selling pressure zone that is located at 1.258 and above. The rally was stopped there and USDCAD has come down now.
There is potential for high volatility any minute now on the release of the Canadian CPI inflation data at 8:30 ET (14:30 CET). If the data is strong USDCAD could extend the decline from that high in the HFT sell zone.
On the downside, USDCAD bears may target the light HFT buying pressure zone, which is located today at 1.2504 and below.
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