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Canadian Dollar Forecast Unclear Against US Dollar
Thursday, 05 February 2009 13:58:12 GMT  |  David Rodriguez, Quantitative Analyst and Antonio Sousa, Chief Strategist
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USD/CAD ratio: 1.14
Trading Forecast: Bearish

020509_ssi_6

USDCAD – The ratio of long to short positions in the USDCAD stands at 1.14 as nearly 53% of traders are long. Yesterday, the ratio was at 1.25 as 56% of open positions were long. In detail, long positions are 1.7% higher than yesterday and 15.6% stronger since last week. Short positions are 11.8% higher than yesterday and 32.0% stronger since last week. Open interest is 6.2% stronger than yesterday and 33.0% 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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