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Canadian Dollar Forecast Bearish Against US Dollar
Thursday, 19 February 2009 13:41:13 GMT  |  David Rodriguez, Quantitative Analyst
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USD/CAD ratio: -1.01
Trading Forecast: Bullish

US Dollar/Canadian Dollar

USDCAD – The ratio of long to short positions in the USDCAD stands at -1.01 as nearly 50% of traders are short. Yesterday, the ratio was at -1.08 as 52% of open positions were short. In detail, long positions are 29.2% higher than yesterday and 36.3% stronger since last week. Short positions are 21.2% higher than yesterday and 34.3% stronger since last week. Open interest is 25.1% stronger than yesterday and 11.3% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD gains. Tell us and other traders what you think in our forex forum.

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