Number of traders net-short has increased by 49.83% from last week. SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS C
Number of traders net-short has increased by 49.83% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
USD/CAD |
BULLISH |
49.03% |
50.97% |
-0.70%
-34.25% |
26.06%
49.83% |
11.35%
-7.91% |
USD/CAD: Retail trader data shows 49.03% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Feb 24 when USD/CAD traded near 1.28, price has moved 0.05% lower since then. The number of traders net-long is 0.70% lower than yesterday and 34.25% lower from last week, while the number of traders net-short is 26.06% higher than yesterday and 49.83% 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 Feb 24, 2022 when USD/CAD traded near 1.28. 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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