Number of traders net-short has increased by 10.26% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BULLISH |
49.73% |
50.27% |
-18.83%
-15.37% |
23.86%
10.26% |
-1.82%
-4.17% |
USD/CAD: Retail trader data shows 49.73% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Jun 26 when USD/CAD traded near 1.37, price has moved 0.57% lower since then. The number of traders net-long is 18.83% lower than yesterday and 15.37% lower from last week, while the number of traders net-short is 23.86% higher than yesterday and 10.26% 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 Jun 26, 2020 when USD/CAD traded near 1.37. 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.
