Number of traders net-short has increased by 43.24% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
---|---|---|---|---|---|---|
USD/CAD | BULLISH | 20.42% | 79.58% |
-17.52% Daily -30.32% Weekly |
4.88% Daily 43.24% Weekly |
-0.63% Daily 17.83% Weekly |
Change in | Longs | Shorts | OI |
Daily | -20% | 5% | -1% |
Weekly | -31% | 34% | 13% |
USD/CAD: Retail trader data shows 20.42% of traders are net-long with the ratio of traders short to long at 3.90 to 1. Our data shows traders are now at their least net-long USD/CAD since Mar 12 when USD/CAD traded near 1.38. The number of traders net-long is 17.52% lower than yesterday and 30.32% lower from last week, while the number of traders net-short is 4.88% higher than yesterday and 43.24% 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.
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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