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USD/CAD IG Client Sentiment: Our data shows traders are now at their most net-long USD/CAD since Oct 30 when USD/CAD traded near 1.32.

USD/CAD IG Client Sentiment: Our data shows traders are now at their most net-long USD/CAD since Oct 30 when USD/CAD traded near 1.32.

2020-01-07 14:23:00
Research, Research Team
Share:
USD/CAD Client Positioning

Number of traders net-short has increased by 10.99% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

USD/CAD

BEARISH

76.44%

23.56%

7.67% Daily

57.80% Weekly

-12.40% Daily

10.99% Weekly

2.16% Daily

43.54% Weekly

USD/CAD: Retail trader data shows 76.44% of traders are net-long with the ratio of traders long to short at 3.25 to 1. Our data shows traders are now at their most net-long USD/CAD since Oct 30 when USD/CAD traded near 1.32. The number of traders net-long is 7.67% higher than yesterday and 57.80% higher from last week, while the number of traders net-short is 12.40% lower than yesterday and 10.99% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/CAD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.

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