
Number of traders net-short has increased by 97.12% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BULLISH | 31.59% | 68.41% | 6.77% Daily -44.53% Weekly | 18.96% Daily 97.12% Weekly | 14.81% Daily 9.10% Weekly |
USD/CAD: Retail trader data shows 31.59% of traders are net-long with the ratio of traders short to long at 2.17 to 1. Our data shows traders are now at their least net-long USD/CAD since Dec 22 when USD/CAD traded near 1.29. The number of traders net-long is 6.77% higher than yesterday and 44.53% lower from last week, while the number of traders net-short is 18.96% higher than yesterday and 97.12% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USD/CAD prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.