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Canadian Dollar Expected to Appreciate Against US Dollar
Thursday, 19 March 2009 13:15:07 GMT  |  David Rodriguez, Quantitative Analyst
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USD/CAD ratio: 1.25
Trading Forecast: Bearish

US Dollar/Canadian Dollar

USDCAD – The ratio of long to short positions in the USDCAD stands at 1.24 as nearly 55% of traders are long. Yesterday, the ratio was at -1.19 as 54% of open positions were short. In detail, long positions are 2.0% higher than yesterday and 39.3% stronger since last week. Short positions are 30.8% lower than yesterday and 4.1% stronger since last week. Open interest is 15.8% weaker than yesterday and 0.5% 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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