USDCAD – The ratio of long to short positions in the USDCAD stands at 1.10 as nearly 52% of traders are long. Yesterday, the ratio was at 1.36 as 58% of open positions were long. In detail, long positions are 7.9% lower than yesterday and 60.2% weaker since last week. Short positions are 14.4% higher than yesterday and 32.7% weaker since last week. Open interest is 1.6% stronger than yesterday and 62.3% below its monthly average. The SSI is a contrarian indicator and gives a marginally USDCAD-bearish bias, but the sharp drop in open interest gives us little confidence in these forecasts. Tell us and other traders what you think in our forex forum.
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