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Canadian Dollar Expected to Appreciate Against US Dollar
Thursday, 09 April 2009 15:42:50 GMT  |  David Rodriguez, Quantitative Strategist
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USD/CAD ratio: 2.05
Trading Forecast: Bearish

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USDCAD – The ratio of long to short positions in the USDCAD stands at 2.05 as nearly 67% of traders are long. Yesterday, the ratio was at 1.34 as 57% of open positions were long. In detail, long positions are 50.9% higher than yesterday and 125.5% stronger since last week. Short positions are 1.5% lower than yesterday and 45.7% weaker since last week. Open interest is 28.5% stronger than yesterday and 44.7% above its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses. Our forex trading signals are accordingly short the USD/CAD.

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