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Home Technical Analysis

Our data shows traders are now at their most net-long USD/CAD since Oct 15 when USD/CAD traded near 1.32.

Forex Tips by Forex Tips
November 5, 2020
in Technical Analysis
0
Our data shows traders are now at their most net-long USD/CAD since Oct 15 when USD/CAD traded near 1.32.
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USD/CAD Client Positioning

Number of traders net-short has decreased by 69.48% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


USD/CAD

BEARISH

81.83%

18.17%

10.43%
Daily

32.29%
Weekly

-21.23%
Daily

-69.48%
Weekly

2.92%
Daily

-17.62%
Weekly

USD/CAD: Retail trader data shows 81.83% of traders are net-long with the ratio of traders long to short at 4.50 to 1. Our data shows traders are now at their most net-long USD/CAD since Oct 15 when USD/CAD traded near 1.32. The number of traders net-long is 10.43% higher than yesterday and 32.29% higher from last week, while the number of traders net-short is 21.23% lower than yesterday and 69.48% 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.

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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