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Canadian Dollar May Recover Further Against US Dollar
Thursday, 11 December 2008 15:20:55 GMT  |  David Rodriguez, Quantitative Analyst
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USD/CAD Ratio: 1.09
Trading Forecast: Bearish

Forex_Sentiment_2008-12-11_6

USDCAD -  The ratio of long to short positions in the USDCAD stands at 1.07 as nearly 52% of traders are long. Yesterday, the ratio was at -1.05 as 51% of open positions were short. In detail, long positions are 1.7% higher than yesterday and 50.6% weaker since last week. Short positions are 8.9% lower than yesterday and 11.1% stronger since last week. Open interest is 3.7% weaker than yesterday and 56.7% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses. Tell us and other traders what you think in our forex forum.

 

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