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Number of traders net-short has increased by 12.06% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BULLISH |
48.79% |
51.21% |
-27.98%
-20.92% |
45.98%
12.06% |
-2.75%
-6.88% |
USD/CAD: Retail trader data shows 48.79% of traders are net-long with the ratio of traders short to long at 1.05 to 1. In fact, traders have remained net-short since Aug 05 when USD/CAD traded near 1.29, price has moved 0.19% lower since then. The number of traders net-long is 27.98% lower than yesterday and 20.92% lower from last week, while the number of traders net-short is 45.98% higher than yesterday and 12.06% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USD/CAD prices may continue to rise.
Our data shows traders are now net-short USD/CAD for the first time since Aug 05, 2022 15:00 GMT when USD/CAD traded near 1.29. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.
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