Number of traders net-short has decreased by 24.20% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIUS
Number of traders net-short has decreased by 24.20% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BEARISH | 51.97% | 48.03% |
15.54% Daily 64.06% Weekly |
-16.80% Daily -24.20% Weekly |
-2.63% Daily 5.22% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 19% | -14% | 1% |
| Weekly | 50% | -28% | 0% |
USD/CAD: Retail trader data shows 51.97% of traders are net-long with the ratio of traders long to short at 1.08 to 1. In fact, traders have remained net-long since Feb 15 when USD/CAD traded near 1.34, price has moved 1.55% higher since then. The number of traders net-long is 15.54% higher than yesterday and 64.06% higher from last week, while the number of traders net-short is 16.80% lower than yesterday and 24.20% 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 15, 2023 when USD/CAD traded near 1.34. 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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