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Number of traders net-short has decreased by 33.22% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BEARISH | 50.06% | 49.94% |
1.26% Daily 16.91% Weekly |
-22.18% Daily -33.22% Weekly |
-11.98% Daily -14.97% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 1% | -22% | -12% |
| Weekly | 17% | -33% | -15% |
USD/CAD: Retail trader data shows 50.06% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Apr 20 when USD/CAD traded near 1.35, price has moved 0.23% lower since then. The number of traders net-long is 1.26% higher than yesterday and 16.91% higher from last week, while the number of traders net-short is 22.18% lower than yesterday and 33.22% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/CAD prices may continue to fall.
Our data shows traders are now net-long USD/CAD for the first time since Apr 20, 2023 when USD/CAD traded near 1.35. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.
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