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USDCAD-Canadian Dollar Forecast Unclear Against the US Dollar
Thursday, 30 October 2008 14:50:11 GMT  |  David Rodriguez, Quantitative Analyst
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USD/CAD Ratio: 2.22
Trading Forecast: Bearish

Forex Positioning in the USDCAD

10-30-08-SSI5

 

USDCAD – The ratio of long to short positions in the USDCAD stands at 2.22 as nearly 69% of traders are long. Yesterday, the ratio was at 1.86 as 65% of open positions were long. In detail, long positions are 2.5% higher than yesterday and 50.1% weaker since last week. Short positions are 14.2% lower than yesterday and 40.4% weaker since last week. Open interest is 3.3% weaker than yesterday and 49.2% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses. Yet some of our analysts believe that the USD/CAD may rally through the near term. Tell us and other traders what you think in our forex forum.

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