Number of traders net-short has increased by 27.33% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIUS
Number of traders net-short has increased by 27.33% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BULLISH | 47.41% | 52.59% |
-31.87% Daily -28.88% Weekly |
5.88% Daily 27.33% Weekly |
-16.15% Daily -7.38% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -33% | 20% | -11% |
| Weekly | -29% | 60% | 2% |
USD/CAD: Retail trader data shows 47.41% of traders are net-long with the ratio of traders short to long at 1.11 to 1. In fact, traders have remained net-short since Mar 06 when USD/CAD traded near 1.35, price has moved 0.07% higher since then. The number of traders net-long is 31.87% lower than yesterday and 28.88% lower from last week, while the number of traders net-short is 5.88% higher than yesterday and 27.33% 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 06, 2024 15:00 GMT when USD/CAD traded near 1.35. 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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