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Canadian Dollar Forecast Unclear Against US Dollar
Thursday, 12 February 2009 13:41:13 GMT  |  David Rodriguez, Quantitative Analyst
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USD/CAD ratio: -1.04
Trading Forecast: Bullish

US Dollar/Canadian Dollar

USDCAD – The ratio of long to short positions in the USDCAD stands at -1.04 as nearly 51 percent of traders are short. Yesterday, the ratio was at 1.27 as 56 percent of open positions were long. In detail, long positions are 4.7 percent lower than yesterday and 4.9 percent weaker since last week. Short positions are 26.1 percent higher than yesterday and 26.8% stronger since last week. Open interest is 8.9% stronger than yesterday and 23.9% 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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