Number of traders net-short has decreased by 25.97% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIUS
Number of traders net-short has decreased by 25.97% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BEARISH | 51.21% | 48.79% |
13.10% Daily 30.14% Weekly |
-22.32% Daily -25.97% Weekly |
-7.48% Daily -4.99% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 25% | -26% | -5% |
| Weekly | 41% | -32% | -4% |
USD/CAD: Retail trader data shows 51.21% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Feb 27 when USD/CAD traded near 1.35, price has moved 0.12% lower since then. The number of traders net-long is 13.10% higher than yesterday and 30.14% higher from last week, while the number of traders net-short is 22.32% lower than yesterday and 25.97% 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 Feb 27, 2024 15:00 GMT 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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