Number of traders net-short has increased by 27.18% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIUS
Number of traders net-short has increased by 27.18% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BULLISH | 49.42% | 50.58% |
-20.57% Daily -13.10% Weekly |
23.91% Daily 27.18% Weekly |
-2.95% Daily 3.47% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -20% | 25% | -2% |
| Weekly | -12% | 28% | 4% |
USD/CAD: Retail trader data shows 49.42% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Apr 10 when USD/CAD traded near 1.35, price has moved 0.31% lower since then. The number of traders net-long is 20.57% lower than yesterday and 13.10% lower from last week, while the number of traders net-short is 23.91% higher than yesterday and 27.18% 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 Apr 10, 2023 19:00 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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