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Number of traders net-short has decreased by 17.70% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.00% |
50.00% |
12.04%
0.00% |
-14.71%
-17.70% |
-3.15%
-9.71% |
USD/CAD: Retail trader data shows 50.00% 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 Jun 15 when USD/CAD traded near 1.29, price has moved 1.46% higher since then. The number of traders net-long is 12.04% higher than yesterday and unchanged from last week, while the number of traders net-short is 14.71% lower than yesterday and 17.70% 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 Jun 15, 2022 when USD/CAD traded near 1.29. 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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