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Number of traders net-short has increased by 8.51% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BULLISH |
49.32% |
50.68% |
-38.73%
-22.00% |
22.16%
8.51% |
-18.02%
-9.04% |
USD/CAD: Retail trader data shows 49.32% of traders are net-long with the ratio of traders short to long at 1.03 to 1. In fact, traders have remained net-short since Mar 15 when USD/CAD traded near 1.28, price has moved 0.62% lower since then. The number of traders net-long is 38.73% lower than yesterday and 22.00% lower from last week, while the number of traders net-short is 22.16% higher than yesterday and 8.51% 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 Mar 15, 2022 when USD/CAD traded near 1.28. 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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