Number of traders net-short has decreased by 19.27% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BEARISH | 50.59% | 49.41% |
14.10% Daily 53.21% Weekly |
-15.86% Daily -19.27% Weekly |
-2.97% Daily 6.13% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 11% | -15% | -3% |
| Weekly | 41% | -18% | 3% |
USD/CAD: Retail trader data shows 50.59% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Jun 04 when USD/CAD traded near 1.37, price has moved 0.05% higher since then. The number of traders net-long is 14.10% higher than yesterday and 53.21% higher from last week, while the number of traders net-short is 15.86% lower than yesterday and 19.27% 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 Jun 04, 2024 when USD/CAD traded near 1.37. 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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